Quarterly ResultMay 6, 2026, 06:10 PM
Taseko Mines Q1 Adjusted EBITDA $93M, Net Income $17M; Florence Copper Starts
AI Summary
Taseko Mines reported strong first quarter 2026 results, with Adjusted EBITDA of $93 million and Earnings from mining operations of $115 million, representing 172% and 195% improvements year-over-year, respectively. Revenues reached $237 million, and net income was $17 million ($0.05 per share). The company's Florence Copper project commenced operations in February, producing 1.5 million pounds of copper cathode, while Gibraltar maintained consistent production levels. Taseko also continues to advance its Yellowhead copper project and other long-term growth initiatives.
Key Highlights
- Adjusted EBITDA for Q1 2026 was $93 million, a 172% improvement over Q1 2025.
- Earnings from mining operations were $115 million, a 195% increase from Q1 2025.
- Q1 2026 revenues totaled $237 million, with net income of $17 million ($0.05 per share).
- Gibraltar produced 30 million pounds of copper at a total operating cost (C1) of US$2.63 per pound.
- Florence Copper commenced operations in February, producing 1.5 million pounds of copper cathode.
- Florence Copper expects 2026 production of 30-35 million pounds of copper cathode.
- Taseko Mines held $169 million in cash and $322 million in total available liquidity at March 31, 2026.
- Yellowhead copper project was added to British Columbia's list of priority major projects.