Taseko Mines (NYSE:TGB) Shares Gap Down to $3.03

Shares of Taseko Mines Limited (NYSE:TGB) gapped down before the market opened on Wednesday . The stock had previously closed at $3.03, but opened at $2.94. Taseko Mines shares last traded at $2.88, with a volume of 873,983 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TGB shares. Stifel Nicolaus started coverage on shares of Taseko Mines in a research report on Tuesday, March 26th. They set a “buy” rating for the company. TheStreet raised shares of Taseko Mines from a “d” rating to a “c” rating in a report on Thursday, March 14th. Finally, TD Securities boosted their target price on shares of Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a report on Tuesday, March 26th.

Taseko Mines Stock Down 5.6 %

The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.11 and a current ratio of 1.97. The stock has a market capitalization of $833.69 million, a P/E ratio of 11.83 and a beta of 1.91. The stock’s fifty day simple moving average is $2.39 and its two-hundred day simple moving average is $1.74.

Taseko Mines (NYSE:TGB) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. Taseko Mines had a net margin of 17.37% and a return on equity of 11.44%. The company had revenue of $109.00 million for the quarter, compared to analyst estimates of $91.89 million. As a group, research analysts expect that Taseko Mines Limited will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Taseko Mines

A number of institutional investors have recently modified their holdings of the company. Cahaba Wealth Management Inc. boosted its stake in shares of Taseko Mines by 38.2% in the 4th quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock valued at $51,000 after purchasing an additional 9,980 shares during the last quarter. Aigen Investment Management LP bought a new position in Taseko Mines during the third quarter worth $28,000. Private Wealth Management Group LLC bought a new position in Taseko Mines during the fourth quarter worth $38,000. Mackenzie Financial Corp bought a new position in Taseko Mines during the fourth quarter worth $102,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Taseko Mines by 1,135.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 142,436 shares of the company’s stock worth $306,000 after acquiring an additional 130,905 shares in the last quarter. 17.94% of the stock is owned by institutional investors.

Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.