Taseko Reports Strong 2024 Results, Sees Continued Growth Ahead
Why we think this is good
The RNS reports strong financial and operational performance for Taseko Mines in 2024, with growth in EBITDA, revenues, and cash position. The company's valuation also appears attractive, with a high net cash position relative to market cap. While the RNS does not contain any explicit positive language, the overall tone is optimistic about the company's outlook.
Key Points
- Full year 2024 Adjusted EBITDA of $224 million
- Revenues of $608 million, up over 15% year-over-year
- Cash balance of $173 million, with $331 million of available liquidity
- Net cash position represents over 33% of market capitalization
Summary
Taseko Mines Limited reported full year 2024 Adjusted EBITDA of $224 million and Earnings from mining operations before depletion and amortization of $244 million. Revenues for the year were $608 million, up from $524.9 million in the prior year. The company ended the year with a cash balance of $173 million and $331 million of available liquidity, including an undrawn credit facility. With a market capitalization of £519.41 million, the company's net cash position represents over 33% of its market value, indicating an attractive valuation.