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Trekor Metals Limited

TGB
49
Copper · Basic Materials
Price
$6.78
-0.13 (-1.88%)
Market Cap
$2.48B
Exchange
New York Stock Exchange Arca
Winston Score
49
Winston is serious
Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+22.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 287.5M (2021) → 350.7M (2025)

Taseko Mines Limited (TGB) is a Canadian copper mining company. It digs copper out of the ground and sells it to industrial buyers who use the metal to make things like electrical wiring, pipes, and electronics. Its main operating asset is the Gibraltar Mine in British Columbia, Canada, which is one of the largest open-pit copper mines in North America.

The company makes money by selling copper concentrate — a processed form of raw copper ore — to smelters and metal traders. Taseko operates primarily in Canada, with a development-stage project called Florence Copper in Arizona that uses an in-situ recovery method to extract copper without traditional mining. With a market cap around $2 billion, the company's financial performance is closely tied to global copper prices, meaning a sustained drop in copper prices is the single biggest risk to its revenue and profitability.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+68.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+148.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$-4M/ year

-0.6% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

1.9%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$172M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Trekor Metals Limited grew revenue 69% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
34.7%
Modest — 34.7% gross margin
Operating Margin
28.5%
Excellent — 28.5% operating margin
ROCE
4.0%
Weak — 4.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+28.0%
Fast-growing sales (28.0% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
1675%
Turns 1675% of profit into real cash
FCF Margin
15.8%
Converts sales into free cash efficiently (15.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity
1.05
Elevated debt (1.05)
Interest Cover
2.42x
Tight — interest eats into profit (2.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)
176.1x
Expensive — P/E 176.1

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward
+170.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (176.1 → 6.1)

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Dividends

Not applicable for this business.
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