2024-07-11 07:55:03 ET
Summary
- Taseko Mines has seen a 20% increase in copper prices, positively impacting financials.
- The company holds significant copper deposits in North America and is developing niobium projects.
- Despite lower net income in the last quarter, Taseko's stock appears undervalued compared to peers.
Preamble
These days, gold bugs are grinning merrily and will tell anyone with ears to hear that the metal is up around 20% over the last 12 months (c$1,950 in July 2023 v Current price $2,370); not bad. What would surprise many of those grinning bugs (which I am one) is that copper has also had a similar increase. Back in July 2023, the spot price of copper per pound was $3.77 and now it is $4.58, which also represents an increase of approximately 20%. Of course, this increase in copper prices has had a positive impact on the financials of Taseko Mines Limited ( TGB ). And the rise in copper prices is not the only reason that makes Taseko such an attractive investment.
In my humble opinion, there are three data points to consider when contemplating an investment into a listed mining company; The jurisdiction of the operations, the financials and the quality of the company's reserves. However, in the case of Taseko, there is also an underappreciated asset to consider; "Taseko's 100%-owned Aley Project in northeast British Columbia is one of largest undeveloped niobium deposit in the world."...
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For further details see:
Taseko Mines: More Than Just A Copper Miner