Taseko Mines Ltd. (NYSE:TGB) is one of the best copper stocks to buy according to hedge funds. On August 6, the company confirmed it is making significant progress on the development of its core copper projects, including Florence Copper, which is on schedule and budget.
Image by Bishnu Sarangi from Pixabay
Production at the Florence Copper project is poised to begin within the next six months, even as mining operations in Gibraltar continue to make progress with the advancement of the deeper Connector Pit. The ramping up of production activities is expected to result in increased copper production and a more substantial cash flow.
The remarks come as Taseko Mines delivers solid second-quarter results. Earnings from mining operations totaled $20.7 million with adjusted EBITDA of $17.4 million. Net income totaled $21.9 million, or $0.07 per share, leading to an adjusted net loss of $13 million, or $0.04 per share, which was worse than the expected loss of $0.02 per share. Revenue in the quarter totaled $116.08 million, better than the expected $93.98 million. The company produced 19.8 million pounds of copper in Gibraltar.
Taseko Mines Ltd. (NYSE:TGB) is a mining company that focuses on the operation and development of copper mines in North America. It is best known for the Gibraltar Mine in British Columbia, which is the second-largest copper mine in Canada, and for advancing the Florence Copper project in Arizona.
While we acknowledge the potential of TGB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best EV Penny Stocks to Buy According to Hedge Funds and 10 Best Performing Crypto Stocks So Far in 2025.
Disclosure: None. This article is originally published at Insider Monkey.