Taseko Mines (TGB) Trading Down 8%

Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) traded down 8% during trading on Thursday . The stock traded as low as $0.80 and last traded at $0.80. 1,625,528 shares were traded during mid-day trading, an increase of 90% from the average session volume of 856,961 shares. The stock had previously closed at $0.87.

Several equities research analysts have commented on the company. Zacks Investment Research lowered Taseko Mines from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, April 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Taseko Mines presently has an average rating of “Hold” and a consensus price target of $2.50.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last announced its earnings results on Wednesday, May 2nd. The mining company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.07). Taseko Mines had a negative net margin of 7.97% and a negative return on equity of 8.19%. The business had revenue of $64.18 million for the quarter, compared to analysts’ expectations of $75.95 million. During the same quarter last year, the business earned $0.07 EPS. The company’s quarterly revenue was down 38.5% on a year-over-year basis.

Several large investors have recently made changes to their positions in TGB. Barclays PLC acquired a new position in Taseko Mines in the 1st quarter valued at $144,000. Goldman Sachs Group Inc. acquired a new position in Taseko Mines in the 4th quarter valued at $173,000. Two Sigma Advisers LP raised its stake in Taseko Mines by 142.7% in the 4th quarter. Two Sigma Advisers LP now owns 118,700 shares of the mining company’s stock valued at $277,000 after purchasing an additional 69,800 shares during the last quarter. Millennium Management LLC raised its stake in Taseko Mines by 58.8% in the 1st quarter. Millennium Management LLC now owns 261,764 shares of the mining company’s stock valued at $301,000 after purchasing an additional 96,892 shares during the last quarter. Finally, CIBC World Markets Inc. raised its stake in Taseko Mines by 333.0% in the 1st quarter. CIBC World Markets Inc. now owns 295,270 shares of the mining company’s stock valued at $340,000 after purchasing an additional 227,085 shares during the last quarter.

Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.

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