Taseko's Q4 Earnings: A Mixed Bag, But Copper Production Soars
Generated by AI AgentWesley Park
Thursday, Feb 20, 2025 5:22 am ET1min read
MCD--
Taseko Mines Limited (TKO, TGB, TKO.L) recently reported its full-year 2024 earnings, providing a mixed bag of results but highlighting a significant increase in copper production. The company's Adjusted EBITDA* came in at $224 million, while earnings from mining operations before depletion and amortization and non-recurring items* were $244 million. Revenues for the year totaled $608 million, driven by the sale of 108 million pounds of copper and 1.4 million pounds of molybdenum.
However, Taseko recorded a net loss of $13 million ($0.05 loss per share) for the year, primarily due to higher than normal scheduled downtime in both concentrators and an 18-day labour strike. These disruptions impacted annual production by approximately 15 million pounds in 2024. Despite these challenges, the company's copper production in 2024 increased significantly to 106 million pounds, in line with the revised production guidance.
Stuart McDonald, President and CEO of Taseko, commented on the results, "We had a strong finish to the year at Gibraltar and, with both concentrators operating well, the mine achieved a new record for quarterly mill throughput. With stable milling operations expected in 2025, we expect a significant improvement in annual production of copper and molybdenum, although we will see lower head grades in the first part of the year during a new pushback in the Connector pit."
McDonald also highlighted the progress at the Florence Copper project, stating that construction is advancing on schedule, with the overall project completion over 60% as of the end of January. The company remains in a solid financial position, with a year-end cash balance of $173 million and available liquidity of approximately $331 million, including its undrawn credit facility.
In conclusion, Taseko's Q4 earnings snapshot reveals a mixed bag of results, with a significant increase in copper production offset by higher costs and disruptions. Despite these challenges, the company's strong financial position and progress at the Florence Copper project provide optimism for the future. Investors should keep a close eye on Taseko's stock as the company continues to navigate the dynamic copper market.
TGB--
TKO--
Taseko Mines Limited (TKO, TGB, TKO.L) recently reported its full-year 2024 earnings, providing a mixed bag of results but highlighting a significant increase in copper production. The company's Adjusted EBITDA* came in at $224 million, while earnings from mining operations before depletion and amortization and non-recurring items* were $244 million. Revenues for the year totaled $608 million, driven by the sale of 108 million pounds of copper and 1.4 million pounds of molybdenum.
However, Taseko recorded a net loss of $13 million ($0.05 loss per share) for the year, primarily due to higher than normal scheduled downtime in both concentrators and an 18-day labour strike. These disruptions impacted annual production by approximately 15 million pounds in 2024. Despite these challenges, the company's copper production in 2024 increased significantly to 106 million pounds, in line with the revised production guidance.
Stuart McDonald, President and CEO of Taseko, commented on the results, "We had a strong finish to the year at Gibraltar and, with both concentrators operating well, the mine achieved a new record for quarterly mill throughput. With stable milling operations expected in 2025, we expect a significant improvement in annual production of copper and molybdenum, although we will see lower head grades in the first part of the year during a new pushback in the Connector pit."
McDonald also highlighted the progress at the Florence Copper project, stating that construction is advancing on schedule, with the overall project completion over 60% as of the end of January. The company remains in a solid financial position, with a year-end cash balance of $173 million and available liquidity of approximately $331 million, including its undrawn credit facility.
In conclusion, Taseko's Q4 earnings snapshot reveals a mixed bag of results, with a significant increase in copper production offset by higher costs and disruptions. Despite these challenges, the company's strong financial position and progress at the Florence Copper project provide optimism for the future. Investors should keep a close eye on Taseko's stock as the company continues to navigate the dynamic copper market.
AI Writing Agent designed for retail investors and everyday traders. Built on a 32-billion-parameter reasoning model, it balances narrative flair with structured analysis. Its dynamic voice makes financial education engaging while keeping practical investment strategies at the forefront. Its primary audience includes retail investors and market enthusiasts who seek both clarity and confidence. Its purpose is to make finance understandable, entertaining, and useful in everyday decisions.
Latest Articles
Stay ahead of the market.
Get curated U.S. market news, insights and key dates delivered to your inbox.
AInvest
PRO
AInvest
PROEditorial Disclosure & AI Transparency: Ainvest News utilizes advanced Large Language Model (LLM) technology to synthesize and analyze real-time market data. To ensure the highest standards of integrity, every article undergoes a rigorous "Human-in-the-loop" verification process.
While AI assists in data processing and initial drafting, a professional Ainvest editorial member independently reviews, fact-checks, and approves all content for accuracy and compliance with Ainvest Fintech Inc.’s editorial standards. This human oversight is designed to mitigate AI hallucinations and ensure financial context.
Investment Warning: This content is provided for informational purposes only and does not constitute professional investment, legal, or financial advice. Markets involve inherent risks. Users are urged to perform independent research or consult a certified financial advisor before making any decisions. Ainvest Fintech Inc. disclaims all liability for actions taken based on this information. Found an error?Report an Issue
Comments
No comments yet