Taseko Mines price target lowered to C$4.25 from C$4.50 at National Bank

National Bank analyst Shane Nagle lowered the firm’s price target on Taseko Mines (TGB) to C$4.25 from C$4.50 and keeps an Outperform rating on the shares. The firm is turning more bullish to reflect the advancement of Florence copper operation, noting that it expects initial production from Florence by Q4 of FY25, driving a doubling of current copper production and commensurate 20% reduction in consolidated operating costs over the same period, the analyst tells investors in a research note. At current copper prices, National Bank sees an increase in annual EBITDA generation to $535M by 2028, from $220M in 2024, the firm adds.