Analysts Are Betting On Taseko Mines Limited (TSE:TKO) With A Big Upgrade This Week

Taseko Mines Limited (TSE:TKO) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline.

Following the upgrade, the most recent consensus for Taseko Mines from its seven analysts is for revenues of CA$513m in 2023 which, if met, would be a major 31% increase on its sales over the past 12 months. Losses are expected to turn into profits real soon, with the analysts forecasting CA$0.033 in per-share earnings. Previously, the analysts had been modelling revenues of CA$456m and earnings per share (EPS) of CA$0.03 in 2023. Sentiment certainly seems to have improved in recent times, with a nice increase in revenue and a small lift in earnings per share estimates.

Check out our latest analysis for Taseko Mines

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Taseko Mines' past performance and to peers in the same industry. The analysts are definitely expecting Taseko Mines' growth to accelerate, with the forecast 31% annualised growth to the end of 2023 ranking favourably alongside historical growth of 5.0% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 13% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Taseko Mines to grow faster than the wider industry.

The Bottom Line

The biggest takeaway for us from these new estimates is that analysts upgraded their earnings per share estimates, with improved earnings power expected for this year. They also upgraded their revenue estimates for this year, and sales are expected to grow faster than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Taseko Mines.

Still, the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple Taseko Mines analysts - going out to 2025, and you can see them free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.