5. Taseko Mines (TGB) is a Canada-based junior mining company. It operates the Gibraltar Copper Mine and is exploring the Prosperity Gold-Copper, Harmony Gold and Aley Niobium properties.
The Gibraltar Mine reported unaudited production results for the second quarter of 2011. For the quarter, Gibraltar produced 20 million pounds of copper, compared with 19.2 million pounds in the first quarter of 2011, and 300,000 pounds of molybdenum.
The company's chief executive says that after a capital outlay of $325 million on the Gibraltar Development Plan 3, the mine's annual production capacity will increase by 90% to 180 million pounds of copper, and by 70% to 3 million pounds of molybdenum.For the first quarter of 2011, Taseko recorded adjusted earnings of $10.8 million, or 6 cents per share, representing a 48% increase from the first quarter of 2010. Cash margins increased 34% to $2.21 per pound for the same period, driven by higher copper prices. The company has purchased put options on almost 90% of its 2012 copper production, which ensures a minimum selling price of $3.50 per pound and revenue for the next 18 months. Of the 10 analysts covering the stock, six rate it a buy and three rate it a hold. On average, analysts surveyed by Bloomberg expect the stock to gain 56.3% to $7.35 in the next 12 months.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV