Taseko Mines (NYSE:TGB) Shares Down 5.3%

Taseko Mines Limited (NYSE:TGB)’s share price was down 5.3% during trading on Tuesday . The company traded as low as $2.50 and last traded at $2.52. Approximately 904,346 shares were traded during trading, a decline of 57% from the average daily volume of 2,089,255 shares. The stock had previously closed at $2.66.

Wall Street Analysts Forecast Growth

TGB has been the topic of several analyst reports. Stifel Nicolaus began coverage on Taseko Mines in a report on Tuesday, March 26th. They set a “buy” rating on the stock. TheStreet upgraded Taseko Mines from a “d” rating to a “c” rating in a report on Thursday, March 14th. Finally, TD Securities raised their price objective on Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a report on Tuesday, March 26th.

Taseko Mines Price Performance

The company has a fifty day moving average price of $2.05 and a 200 day moving average price of $1.57. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.77 and a quick ratio of 0.90. The company has a market capitalization of $723.87 million, a P/E ratio of 12.55 and a beta of 1.98.

Taseko Mines (NYSE:TGB) last announced its earnings results on Thursday, March 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $112.90 million for the quarter. Taseko Mines had a return on equity of 11.54% and a net margin of 15.66%. On average, sell-side analysts forecast that Taseko Mines Limited will post 0.16 EPS for the current fiscal year.

Institutional Trading of Taseko Mines

Several large investors have recently modified their holdings of TGB. Mirae Asset Global Investments Co. Ltd. grew its position in Taseko Mines by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,225,411 shares of the company’s stock worth $7,906,000 after buying an additional 394,376 shares in the last quarter. Acuitas Investments LLC lifted its holdings in Taseko Mines by 29.8% during the 3rd quarter. Acuitas Investments LLC now owns 1,574,844 shares of the company’s stock valued at $2,000,000 after purchasing an additional 361,227 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Taseko Mines in the 3rd quarter worth approximately $28,000. Cahaba Wealth Management Inc. grew its holdings in shares of Taseko Mines by 38.2% during the fourth quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock worth $51,000 after purchasing an additional 9,980 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Taseko Mines in the 4th quarter valued at about $102,000. 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.