Why Taseko Mines Limited (TGB) Is An Attractive Stock Today

Taseko Mines Limited (NYSE:TGB) is a stock to watch today. At current price of $0.6, the shares have already added 0.03 points (6.32% higher) from its previous close of $0.57. The stock sets an active trading volume day with a reported 199691 contracts so far this session. TGB shares had a relatively better volume day versus average trading capacity of 415.42 thousand shares, but with a 0.24 billion float and a 5.22% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TGB stock indicates that the average analyst price target is $2.03 per share. This means the stock has a potential increase of 238.33% from where the TGB share price has been trading recently.

During the recent trading session for Taseko Mines Limited (NYSE:TGB), the company witnessed their stock rise $0.06 over a week and surge $0.15 from the price 20 days ago. When compared to their established 52-week high of $0.79, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/17/19. The recent low of $0.38 stood for a -23.81% since 08/26/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.82 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is less volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Taseko Mines Limited, the two-week RSI stands at 77.86. This figure suggests that TGB stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current TGB readings is similarly very revealing as it has a stochastic reading of 89.85% at this stage. This figure means that TGB share price today is being oversold.

Technical chart claims that Taseko Mines Limited (TGB) would settle between $0.58/share to $0.6/share level. However, if the stock price goes below the $0.55 mark, then the market for Taseko Mines Limited becomes much weaker. If that happens, the stock price might even plunge as low as $0.54 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.02. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at National Bank Financial lowered their recommendation on shares of TGB from Outperform to Sector Perform in their opinion released on November 18. TD Securities analysts have lowered their rating of Taseko Mines Limited (NYSE:TGB) stock from Speculative Buy to Hold in a separate flash note issued to investors on July 22. Analysts at BMO Capital Markets, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to July 05.

TGB equity has an average rating of 2.58, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Taseko Mines Limited (NYSE:TGB) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, TGB stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 18.1. Taseko Mines Limited current P/B ratio of 0.6 means it is trading at a discount against its industry’s 2.1.

Taseko Mines Limited (TGB)’s current-quarter revenues are projected to climb by nearly -29.7% to hit $57.77 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 9.4% from $297760 to a noteworthy $325700. At the other end of the current quarter income statement, Taseko Mines Limited is expected to see its adjusted earnings surge by roughly -83.3% to hit $0.01 per share. For the fiscal year, TGB’s earnings are projected to climb by roughly 57.1% to hit $0.22 per share.