Intrinsic value of Taseko Mines - TGB

Previous Close

$2.21

  Intrinsic Value

$15.68

stock screener

  Rating & Target

str. buy

+609%

Previous close

$2.21

 
Intrinsic value

$15.68

 
Up/down potential

+609%

 
Rating

str. buy

We calculate the intrinsic value of TGB stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -8.88
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  195
  312
  482
  721
  1,046
  1,476
  2,029
  2,723
  3,576
  4,601
  5,812
  7,217
  8,823
  10,635
  12,653
  14,878
  17,307
  19,936
  22,761
  25,778
  28,982
  32,370
  35,936
  39,679
  43,597
  47,690
  51,958
  56,402
  61,026
  65,834
  70,831
Variable operating expenses, $m
 
  62
  96
  143
  207
  293
  402
  539
  708
  911
  1,151
  1,429
  1,747
  2,105
  2,505
  2,945
  3,426
  3,946
  4,506
  5,103
  5,737
  6,408
  7,114
  7,854
  8,630
  9,440
  10,285
  11,165
  12,080
  13,032
  14,021
Fixed operating expenses, $m
 
  180
  185
  190
  194
  199
  204
  209
  214
  220
  225
  231
  237
  243
  249
  255
  261
  268
  274
  281
  288
  296
  303
  311
  318
  326
  334
  343
  351
  360
  369
Total operating expenses, $m
  214
  242
  281
  333
  401
  492
  606
  748
  922
  1,131
  1,376
  1,660
  1,984
  2,348
  2,754
  3,200
  3,687
  4,214
  4,780
  5,384
  6,025
  6,704
  7,417
  8,165
  8,948
  9,766
  10,619
  11,508
  12,431
  13,392
  14,390
Operating income, $m
  -19
  69
  201
  388
  644
  984
  1,423
  1,975
  2,653
  3,470
  4,435
  5,557
  6,840
  8,287
  9,900
  11,678
  13,620
  15,722
  17,981
  20,394
  22,957
  25,666
  28,520
  31,514
  34,649
  37,924
  41,338
  44,894
  48,594
  52,442
  56,441
EBITDA, $m
  20
  132
  297
  531
  852
  1,277
  1,825
  2,514
  3,362
  4,382
  5,587
  6,987
  8,588
  10,394
  12,406
  14,625
  17,048
  19,671
  22,490
  25,500
  28,698
  32,078
  35,638
  39,374
  43,285
  47,370
  51,630
  56,066
  60,682
  65,482
  70,471
Interest expense (income), $m
  17
  17
  33
  56
  88
  132
  190
  265
  359
  474
  613
  777
  967
  1,184
  1,429
  1,702
  2,003
  2,331
  2,687
  3,069
  3,477
  3,910
  4,368
  4,851
  5,357
  5,887
  6,440
  7,018
  7,619
  8,244
  8,894
Earnings before tax, $m
  -34
  52
  168
  332
  556
  852
  1,232
  1,710
  2,294
  2,996
  3,823
  4,781
  5,873
  7,103
  8,471
  9,976
  11,617
  13,391
  15,294
  17,325
  19,480
  21,756
  24,151
  26,663
  29,292
  32,037
  34,898
  37,877
  40,976
  44,198
  47,546
Tax expense, $m
  -11
  14
  45
  90
  150
  230
  333
  462
  619
  809
  1,032
  1,291
  1,586
  1,918
  2,287
  2,694
  3,137
  3,615
  4,129
  4,678
  5,260
  5,874
  6,521
  7,199
  7,909
  8,650
  9,422
  10,227
  11,063
  11,933
  12,838
Net income, $m
  -23
  38
  123
  243
  406
  622
  900
  1,248
  1,675
  2,187
  2,790
  3,490
  4,287
  5,185
  6,184
  7,283
  8,480
  9,775
  11,165
  12,647
  14,220
  15,882
  17,630
  19,464
  21,383
  23,387
  25,475
  27,650
  29,912
  32,264
  34,709

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  67
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  703
  1,016
  1,570
  2,348
  3,407
  4,807
  6,608
  8,870
  11,647
  14,987
  18,930
  23,507
  28,740
  34,641
  41,216
  48,463
  56,374
  64,938
  74,141
  83,968
  94,405
  105,438
  117,056
  129,248
  142,011
  155,342
  169,243
  183,719
  198,781
  214,442
  230,719
Adjusted assets (=assets-cash), $m
  636
  1,016
  1,570
  2,348
  3,407
  4,807
  6,608
  8,870
  11,647
  14,987
  18,930
  23,507
  28,740
  34,641
  41,216
  48,463
  56,374
  64,938
  74,141
  83,968
  94,405
  105,438
  117,056
  129,248
  142,011
  155,342
  169,243
  183,719
  198,781
  214,442
  230,719
Revenue / Adjusted assets
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
Average production assets, $m
  564
  902
  1,394
  2,085
  3,025
  4,268
  5,867
  7,876
  10,341
  13,306
  16,807
  20,871
  25,516
  30,756
  36,593
  43,027
  50,051
  57,655
  65,826
  74,551
  83,817
  93,613
  103,927
  114,752
  126,084
  137,919
  150,261
  163,114
  176,486
  190,391
  204,842
Working capital, $m
  81
  41
  64
  96
  139
  196
  270
  362
  476
  612
  773
  960
  1,173
  1,414
  1,683
  1,979
  2,302
  2,651
  3,027
  3,429
  3,855
  4,305
  4,779
  5,277
  5,798
  6,343
  6,910
  7,501
  8,116
  8,756
  9,420
Total debt, $m
  296
  547
  931
  1,469
  2,202
  3,170
  4,417
  5,982
  7,904
  10,215
  12,944
  16,111
  19,732
  23,816
  28,365
  33,380
  38,855
  44,781
  51,150
  57,950
  65,173
  72,807
  80,846
  89,284
  98,116
  107,341
  116,960
  126,978
  137,400
  148,238
  159,501
Total liabilities, $m
  452
  703
  1,087
  1,625
  2,358
  3,326
  4,573
  6,138
  8,060
  10,371
  13,100
  16,267
  19,888
  23,972
  28,521
  33,536
  39,011
  44,937
  51,306
  58,106
  65,329
  72,963
  81,002
  89,440
  98,272
  107,497
  117,116
  127,134
  137,556
  148,394
  159,657
Total equity, $m
  251
  313
  484
  723
  1,049
  1,481
  2,035
  2,732
  3,587
  4,616
  5,831
  7,240
  8,852
  10,669
  12,694
  14,926
  17,363
  20,001
  22,835
  25,862
  29,077
  32,475
  36,053
  39,809
  43,739
  47,845
  52,127
  56,585
  61,224
  66,048
  71,061
Total liabilities and equity, $m
  703
  1,016
  1,571
  2,348
  3,407
  4,807
  6,608
  8,870
  11,647
  14,987
  18,931
  23,507
  28,740
  34,641
  41,215
  48,462
  56,374
  64,938
  74,141
  83,968
  94,406
  105,438
  117,055
  129,249
  142,011
  155,342
  169,243
  183,719
  198,780
  214,442
  230,718
Debt-to-equity ratio
  1.179
  1.750
  1.920
  2.030
  2.100
  2.140
  2.170
  2.190
  2.200
  2.210
  2.220
  2.230
  2.230
  2.230
  2.230
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
  2.240
Adjusted equity ratio
  0.289
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -23
  38
  123
  243
  406
  622
  900
  1,248
  1,675
  2,187
  2,790
  3,490
  4,287
  5,185
  6,184
  7,283
  8,480
  9,775
  11,165
  12,647
  14,220
  15,882
  17,630
  19,464
  21,383
  23,387
  25,475
  27,650
  29,912
  32,264
  34,709
Depreciation, amort., depletion, $m
  39
  62
  96
  143
  208
  293
  402
  540
  709
  912
  1,152
  1,429
  1,748
  2,107
  2,506
  2,947
  3,428
  3,949
  4,509
  5,106
  5,741
  6,412
  7,118
  7,860
  8,636
  9,447
  10,292
  11,172
  12,088
  13,040
  14,030
Funds from operations, $m
  22
  100
  219
  386
  614
  915
  1,302
  1,788
  2,383
  3,099
  3,942
  4,919
  6,035
  7,292
  8,690
  10,230
  11,908
  13,724
  15,673
  17,754
  19,961
  22,294
  24,749
  27,324
  30,019
  32,833
  35,767
  38,822
  42,000
  45,305
  48,739
Change in working capital, $m
  -3
  16
  23
  32
  43
  57
  74
  92
  113
  136
  161
  187
  214
  241
  268
  296
  323
  350
  376
  401
  426
  450
  474
  498
  521
  544
  568
  591
  615
  639
  665
Cash from operations, $m
  25
  85
  196
  354
  570
  857
  1,228
  1,695
  2,270
  2,962
  3,781
  4,732
  5,821
  7,051
  8,422
  9,934
  11,585
  13,374
  15,298
  17,352
  19,535
  21,843
  24,274
  26,826
  29,498
  32,289
  35,200
  38,231
  41,385
  44,665
  48,075
Maintenance CAPEX, $m
  0
  -39
  -62
  -95
  -143
  -207
  -292
  -402
  -539
  -708
  -911
  -1,151
  -1,429
  -1,748
  -2,107
  -2,506
  -2,947
  -3,428
  -3,949
  -4,509
  -5,106
  -5,741
  -6,412
  -7,118
  -7,860
  -8,636
  -9,447
  -10,292
  -11,172
  -12,088
  -13,040
New CAPEX, $m
  -14
  -338
  -492
  -691
  -940
  -1,243
  -1,599
  -2,008
  -2,466
  -2,965
  -3,501
  -4,064
  -4,646
  -5,239
  -5,838
  -6,434
  -7,024
  -7,604
  -8,171
  -8,725
  -9,266
  -9,795
  -10,314
  -10,825
  -11,331
  -11,836
  -12,342
  -12,853
  -13,372
  -13,904
  -14,452
Cash from investing activities, $m
  -14
  -377
  -554
  -786
  -1,083
  -1,450
  -1,891
  -2,410
  -3,005
  -3,673
  -4,412
  -5,215
  -6,075
  -6,987
  -7,945
  -8,940
  -9,971
  -11,032
  -12,120
  -13,234
  -14,372
  -15,536
  -16,726
  -17,943
  -19,191
  -20,472
  -21,789
  -23,145
  -24,544
  -25,992
  -27,492
Free cash flow, $m
  11
  -292
  -357
  -432
  -513
  -593
  -663
  -715
  -735
  -711
  -631
  -482
  -254
  64
  478
  993
  1,615
  2,343
  3,178
  4,118
  5,163
  6,307
  7,548
  8,883
  10,307
  11,817
  13,411
  15,086
  16,841
  18,673
  20,582
Issuance/(repayment) of debt, $m
  25
  263
  383
  538
  733
  969
  1,247
  1,565
  1,922
  2,311
  2,728
  3,167
  3,621
  4,084
  4,550
  5,015
  5,474
  5,926
  6,369
  6,801
  7,222
  7,635
  8,039
  8,437
  8,832
  9,225
  9,619
  10,018
  10,423
  10,837
  11,264
Issuance/(repurchase) of shares, $m
  0
  79
  48
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  5
  342
  431
  538
  733
  969
  1,247
  1,565
  1,922
  2,311
  2,728
  3,167
  3,621
  4,084
  4,550
  5,015
  5,474
  5,926
  6,369
  6,801
  7,222
  7,635
  8,039
  8,437
  8,832
  9,225
  9,619
  10,018
  10,423
  10,837
  11,264
Total cash flow (excl. dividends), $m
  15
  50
  74
  106
  220
  376
  583
  851
  1,187
  1,600
  2,097
  2,685
  3,367
  4,147
  5,028
  6,008
  7,089
  8,269
  9,546
  10,919
  12,385
  13,942
  15,587
  17,320
  19,139
  21,042
  23,031
  25,104
  27,263
  29,510
  31,846
Retained Cash Flow (-), $m
  23
  -117
  -171
  -240
  -326
  -431
  -555
  -697
  -855
  -1,029
  -1,214
  -1,410
  -1,612
  -1,818
  -2,025
  -2,232
  -2,437
  -2,638
  -2,835
  -3,027
  -3,215
  -3,398
  -3,578
  -3,755
  -3,931
  -4,106
  -4,281
  -4,459
  -4,639
  -4,824
  -5,013
Prev. year cash balance distribution, $m
 
  55
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -12
  -97
  -133
  -106
  -55
  28
  154
  331
  571
  883
  1,275
  1,756
  2,330
  3,002
  3,776
  4,652
  5,631
  6,712
  7,892
  9,170
  10,544
  12,009
  13,565
  15,208
  16,936
  18,749
  20,645
  22,624
  24,687
  26,833
Discount rate, %
 
  8.00
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
PV of cash for distribution, $m
 
  -11
  -83
  -104
  -74
  -35
  16
  75
  141
  209
  274
  331
  377
  407
  420
  416
  397
  365
  324
  278
  231
  185
  144
  108
  78
  55
  37
  24
  15
  9
  5
Current shareholders' claim on cash, %
  100
  83.3
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5

Taseko Mines Limited is a mining company. The Company is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada and the State of Arizona, the United States. Its projects represent a range of metals, including gold, copper and niobium. The Company's operating asset is the Gibraltar Mine, which is a copper-molybdenum mine located in south-central British Columbia. Gibraltar is an open pit copper mine. The Company also owns the New Prosperity gold-copper, Aley niobium, Florence copper and Harmony gold projects. The Harmony gold project is located on Graham Island off British Columbia's west coast. The Aley niobium project is located in northern British Columbia, 140 kilometers north of Mackenzie. The Florence copper project is located midway between Phoenix and Tucson near the community of Florence.

FINANCIAL RATIOS  of  Taseko Mines (TGB)

Valuation Ratios
P/E Ratio -21.3
Price to Sales 2.5
Price to Book 2
Price to Tangible Book
Price to Cash Flow 19.6
Price to Free Cash Flow 44.6
Growth Rates
Sales Growth Rate -8.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -28.1%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 113.1%
Total Debt to Equity 117.9%
Interest Coverage -1
Management Effectiveness
Return On Assets -1.6%
Ret/ On Assets - 3 Yr. Avg. -3.2%
Return On Total Capital -4.2%
Ret/ On T. Cap. - 3 Yr. Avg. -6.7%
Return On Equity -8.8%
Return On Equity - 3 Yr. Avg. -12.4%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0.5%
Gross Margin - 3 Yr. Avg. 0.9%
EBITDA Margin 11.3%
EBITDA Margin - 3 Yr. Avg. 4.9%
Operating Margin -9.7%
Oper. Margin - 3 Yr. Avg. -5.5%
Pre-Tax Margin -17.4%
Pre-Tax Margin - 3 Yr. Avg. -19.6%
Net Profit Margin -11.8%
Net Profit Margin - 3 Yr. Avg. -16.3%
Effective Tax Rate 32.4%
Eff/ Tax Rate - 3 Yr. Avg. 17.8%
Payout Ratio 0%

TGB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TGB stock intrinsic value calculation we used $195 million for the last fiscal year's total revenue generated by Taseko Mines. The default revenue input number comes from 2016 income statement of Taseko Mines. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TGB stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8%, whose default value for TGB is calculated based on our internal credit rating of Taseko Mines, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Taseko Mines.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TGB stock the variable cost ratio is equal to 20%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $176 million in the base year in the intrinsic value calculation for TGB stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6% for Taseko Mines.

Corporate tax rate of 27% is the nominal tax rate for Taseko Mines. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TGB stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TGB are equal to 289.2%.

Life of production assets of 14.6 years is the average useful life of capital assets used in Taseko Mines operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TGB is equal to 13.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $251 million for Taseko Mines - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 228.345 million for Taseko Mines is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Taseko Mines at the current share price and the inputted number of shares is $0.5 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Taseko Announces New Board Appointment   [Oct-11-17 08:30AM  PR Newswire]
▶ Taseko to Release Q2 2017 Results   [Jul-31-17 04:30PM  PR Newswire]
▶ Taseko to Release Q2 2017 Results   [04:30PM  CNW Group]
▶ Taseko Updates Operating Status of Gibraltar   [Jul-17-17 10:07AM  PR Newswire]
▶ Taseko Updates Operating Status of Gibraltar   [Jul-12-17 04:39PM  CNW Group]
▶ What Does Franco-Nevada Own in Canada?   [Jul-06-17 10:52AM  Motley Fool]
▶ Taseko Reports Annual General Meeting Voting Results   [Jun-09-17 08:00AM  PR Newswire]
▶ Why Taseko Mines Limited Stock Jumped Over 13% in May   [Jun-06-17 11:29AM  Motley Fool]
▶ Taseko to Release First Quarter 2017 Results   [May-01-17 05:00PM  PR Newswire]
▶ Gibraltar Signs Long-Term Labour Agreement   [Apr-12-17 12:08PM  PR Newswire]
▶ Taseko Closes Gibraltar Mine Silver Stream   [Mar-03-17 04:30PM  PR Newswire]
▶ Penny Stocks to Watch for March 2017 (MOBL)   [Mar-02-17 05:21PM  at Investopedia]
▶ Taseko to Release Year End 2016 Results   [Feb-16-17 06:40PM  PR Newswire]
▶ Taseko Reports Improving Operating and Financial Results   [Oct-27-16 05:45PM  PR Newswire]
▶ Taseko to Release Third Quarter 2016 Results   [Oct-24-16 04:48PM  PR Newswire]
▶ Taseko expands land package at Gibraltar   [Aug-09-16 08:00AM  PR Newswire]
▶ Taseko to Release Second Quarter 2016 Results   [Jul-21-16 04:30PM  PR Newswire]
▶ Taseko Reports Annual General Meeting Voting Results   [Jul-13-16 04:30PM  PR Newswire]
▶ Taseko announces new board appointment   [May-16-16 07:30AM  PR Newswire]
▶ Taseko Reports First Quarter 2016 Results   [May-12-16 06:52PM  PR Newswire]
▶ Taseko: Florence Copper Achieves Important Milestone   [Apr-14-16 03:00PM  PR Newswire]
▶ Taseko: dissidents' lawsuit is wholly without merit   [Apr-13-16 09:47PM  PR Newswire]
▶ Taseko directors acquire shares   [Mar-09-16 07:30AM  PR Newswire]
▶ Taseko Provides Update on Board   [Feb-25-16 03:40PM  PR Newswire]
Financial statements of TGB
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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