Quick Win by the Algorithm: Healthy Balance Sheet For Miner Taseko

Quick Win by the Algorithm

On May 31st, 2016, the I Know First algorithm issued a bullish forecast for Taseko Mines Ltd. (TGB). TGB had a signal of 708.18 and a predictability of 0.66. As a result, in accordance with the forecast, the company’s stock increased by 161.27% in a year, showing a quick win by the algorithm.

Taseko Mines Ltd. engages in the development, exploration and selling of metals . Its exploration projects includes Gibraltar copper-molybdenum mine, New Prosperity gold-copper, Harmony gold, and Aley niobium, located in British Columbia, Canada. The company was founded on April 15, 1966 and is headquartered in Vancouver, Canada.


A recent rise in commodity prices has helped mining companies such as Taseko increase profitability. In the month of May alone, TGB shares advanced nearly 14%. The rise in price was likely due to the copper and molybdenum miner reported earnings. Although, the more important figure, was earnings per share at $0.07 CAD. This number was up from the previous quarter’s loss of $0.01 per share.

Despite higher commodity prices, Taseko can also be commended for its operations. Production of copper in its Gibraltar mine increased from 28.8 million pounds to 41.3 million pounds. Taseko also decreased its total operating costs by 33% from the corresponding quarter last year.

Interesting to note is the miner’s cash balance of almost $150 million CAD. After a silver streaming deal with Osisko Gold Royalties Ltd. (OR) went through, Taseko received $44 million CAD in cash. This influx of cash helped Taseko balance sheet tremendously.

This bullish forecast on TGB was sent to current I Know First subscribers on May 31, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.