Taseko Mines Limited (TGB) saw its stock plummet 5.36% in intraday trading on Friday, following the release of its full-year 2024 earnings results that missed analyst expectations.
According to the report, the Canadian mining company reported a net loss of CA$13.4 million for the fiscal year 2024, a significant decline from the CA$82.7 million profit in the previous year. Earnings per share (EPS) came in at a loss of CA$0.046, well below analysts' estimates.
Despite a 16% year-over-year increase in revenue to CA$608.1 million, driven by strong demand for its metal products, the company's profitability was impacted by higher operating costs and a challenging macroeconomic environment.
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