Taseko Mines (NYSE:TGB) Downgraded by StockNews.com to “Sell”

Taseko Mines (NYSE:TGB) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Taseko Mines Stock Performance

Shares of TGB traded up $0.02 during mid-day trading on Wednesday, hitting $2.01. The stock had a trading volume of 1,785,252 shares, compared to its average volume of 3,018,114. The firm has a market cap of $601.90 million, a P/E ratio of 10.55 and a beta of 1.77. The business has a fifty day moving average price of $2.32 and a 200-day moving average price of $2.35. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. Taseko Mines has a 52 week low of $1.14 and a 52 week high of $3.15.

Taseko Mines (NYSE:TGB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $114.08 million during the quarter, compared to analysts’ expectations of $112.48 million. Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. On average, equities research analysts expect that Taseko Mines will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Taseko Mines

Several hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC grew its position in shares of Taseko Mines by 82.3% in the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock valued at $34,507,000 after purchasing an additional 6,182,981 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Taseko Mines by 14.7% in the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock valued at $14,465,000 after purchasing an additional 755,192 shares in the last quarter. Bank of Montreal Can grew its position in shares of Taseko Mines by 296.8% in the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after purchasing an additional 2,364,116 shares in the last quarter. Anthracite Investment Company Inc. grew its position in shares of Taseko Mines by 6.5% in the third quarter. Anthracite Investment Company Inc. now owns 1,579,460 shares of the company’s stock valued at $3,980,000 after purchasing an additional 96,000 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Taseko Mines by 11.3% in the second quarter. Millennium Management LLC now owns 1,349,795 shares of the company’s stock valued at $3,315,000 after purchasing an additional 136,932 shares in the last quarter. 17.94% of the stock is currently owned by hedge funds and other 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.