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Dec 31, 2025
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Taseko Mines Q4 2025 Earnings Report
Taseko Mines reported strong fourth quarter 2025 results with higher copper production, improved cash flow and positive net income.
Key Takeaways
In Q4 2025, Taseko generated revenue of 243767000 with net income of 4454000 and Adjusted EBITDA of 116464000. Copper production increased to 30700000 pounds, supported by higher grades and recoveries, while C1 costs improved to 2.47 per pound.
Revenue increased to 243767000 driven by higher copper sales volumes and prices.
Net income was 4454000 while adjusted net income reached 41525000.
Copper production totaled 30700000 pounds with improved grades of 0.26% and recoveries of 80.9%.
Total operating costs (C1) decreased to 2.47 per pound in the quarter.
Forward Guidance
For 2026, Taseko expects higher copper production at Gibraltar of 110 to 115 million pounds and Florence Copper production of 30 to 35 million pounds as commercial ramp-up progresses.
Positive Outlook
- Gibraltar copper production expected to increase to 110 to 115 million pounds in 2026.
- Florence Copper targeting 30 to 35 million pounds of copper cathode in 2026.
- Molybdenum production expected to remain strong with supportive prices above 20 per pound.
- Favorable offtake agreements with low TCRC rates for 2026.
- Hedging program in place to protect minimum copper prices.
Challenges Ahead
- Head grades in Connector Pit have been lower than originally expected.
- Recoveries expected to average between 75% to 80% in 2026 due to oxide and supergene ore.
- Exposure to copper price volatility despite hedging.
Historical Earnings Impact
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