Taseko Mines Limited Earnings Recaps
Q2 2026
Aug 9, 2026
Taseko Mines’ shares rose modestly by 1.7% following Q2 results that showed steady operating performance but no clear catalyst to materially exceed expectations. The market appears to be digesting stable copper production and early-stage ramp-up at Florence without significant margin expansion or guidance updates.
Key takeaways
- Gibraltar maintained consistent copper production, delivering 30 million pounds for the third straight quarter, supporting annual guidance of 110-115 million pounds.
- Florence’s first full production quarter yielded just over 5 million pounds of cathode, with ongoing ramp-up efforts focused on expanding high-producing wells to meet a 30-35 million pound full-year target.
- Florence’s C1 cost was elevated at US$4.72/lb due to early ramp-up fixed costs and high sulfuric acid prices, though management expects unit costs to decline as production scales.
- Operational challenges at Gibraltar’s SXEW plant caused lower cathode output this quarter, but issues have reportedly been resolved, anticipating improved production ahead.
- Sustaining capital at Gibraltar increased to about $48 million in H1, driven by design changes at the tailings storage facility and water management improvements, indicating sustained elevated spending.
Q3 2025
Nov 13, 2025
Taseko Mines reported a solid third quarter for 2025, showing improved operational performance and financial metrics, signaling a positive outlook for the remainder of the year.
Key takeaways
- Copper production reached nearly 28 million pounds, benefiting from higher-grade ore and improved mill recoveries at 77%.
- Adjusted EBITDA for the quarter was $62 million, reflecting operational efficiencies despite rising maintenance costs.
- The Florence project is on track to commence copper production early next year, with significant milestones achieved in commissioning and regulatory approvals.
- Increased wellfield performance is promising, with initial flow rates exceeding expectations and plans to expand drilling activities underway.
- The recent equity offering has bolstered the balance sheet, allowing repayment of $75 million from the revolving credit facility and enhancing liquidity for growth initiatives.