Taseko Mines (NYSE:TGB) Stock Price Down 6%

Taseko Mines Limited (NYSE:TGB)’s share price was down 6% during trading on Monday . The company traded as low as $2.36 and last traded at $2.37. Approximately 2,358,909 shares changed hands during trading, a decline of 11% from the average daily volume of 2,637,519 shares. The stock had previously closed at $2.52.

Analyst Ratings Changes

A number of equities analysts have recently commented on TGB shares. Cantor Fitzgerald raised Taseko Mines to a “strong-buy” rating in a report on Thursday, June 13th. Stifel Nicolaus started coverage on Taseko Mines in a report on Tuesday, March 26th. They set a “buy” rating for the company. Finally, TD Securities boosted their price target on Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a report on Tuesday, March 26th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $2.75.

Taseko Mines Price Performance

The firm has a market cap of $690.02 million, a P/E ratio of 21.00 and a beta of 1.75. The company has a current ratio of 1.97, a quick ratio of 1.11 and a debt-to-equity ratio of 1.34. The business has a 50-day moving average of $2.59 and a two-hundred day moving average of $2.08.

Taseko Mines (NYSE:TGB) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Taseko Mines had a return on equity of 11.44% and a net margin of 17.37%. The business had revenue of $109.00 million for the quarter, compared to analyst estimates of $91.89 million. On average, sell-side analysts anticipate that Taseko Mines Limited will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Taseko Mines

Institutional investors have recently made changes to their positions in the stock. Cahaba Wealth Management Inc. boosted its position in shares of Taseko Mines by 38.2% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Taseko Mines by 22.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,620,259 shares of the company’s stock valued at $10,668,000 after purchasing an additional 1,394,848 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of Taseko Mines during the 4th quarter valued at about $102,000. Acuitas Investments LLC boosted its position in shares of Taseko Mines by 36.0% during the 4th quarter. Acuitas Investments LLC now owns 2,141,258 shares of the company’s stock valued at $2,998,000 after purchasing an additional 566,414 shares in the last quarter. Finally, Private Wealth Management Group LLC acquired a new position in Taseko Mines during the 4th quarter worth approximately $38,000. Institutional investors own 17.94% of the company’s stock.

About Taseko Mines

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.