Canada's Taseko Q1 revenue rises but misses estimates

Trekor Metals

06/05/2026 23:17

Overview

Canada copper miner's Q1 revenue rose yr/yr but missed analyst expectations

Q1 adjusted EPS missed analyst expectations

Higher site costs driven by increased diesel and explosives prices

Outlook

Taseko expects Gibraltar 2026 copper production between 110 mln and 115 mln pounds

Company sees Florence Copper 2026 production in the range of 30 mln to 35 mln pounds

Taseko says elevated diesel prices could increase Gibraltar operating costs by US$0.15 per pound

Result Drivers

GIBRALTAR PRODUCTION - Higher copper and molybdenum output at Gibraltar, with copper production up 50% yr/yr and recoveries improved to 83% due to better ore characteristics

FLORENCE COPPER RAMP-UP - Initial production from Florence Copper contributed 1.5 mln pounds of copper cathode in Q1 as the SX/EW plant began operations and wellfield expansion progressed

HIGHER SITE COSTS - Site costs rose due to increased diesel and explosives prices, higher usage, and unscheduled maintenance, particularly at Gibraltar

Company press release: ID:nGNX6ZWkL2

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
C$237.09 mln
C$253.03 mln (4 Analysts)
Q1 Adjusted EPS
Miss
C$0.08
C$0.12 (3 Analysts)
Q1 Adjusted Net Income
C$27.54 mln
Q1 Net Income
C$16.84 mln
Q1 Adjusted EBITDA
C$93.46 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialty mining & metals peer group is "buy"

Wall Street's median 12-month price target for Taseko Mines Ltd is C$12.88, about 26.1% above its May 6 closing price of C$10.21

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 18 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)