Taseko Mines (NYSE:TGB) Shares Down 4.4% – Here’s What Happened

Taseko Mines Limited (NYSE:TGB)’s share price was down 4.4% during mid-day trading on Tuesday . The stock traded as low as $1.95 and last traded at $1.97. Approximately 354,604 shares traded hands during trading, a decline of 88% from the average daily volume of 3,012,967 shares. The stock had previously closed at $2.06.

Taseko Mines Price Performance

The stock’s fifty day moving average is $2.33 and its 200-day moving average is $2.35. The stock has a market capitalization of $588.39 million, a PE ratio of 10.84 and a beta of 1.77. 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 (NYSE:TGB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm 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%. As a group, equities analysts predict that Taseko Mines Limited will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Taseko Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Keystone Wealth Services LLC purchased a new stake in shares of Taseko Mines in the 2nd quarter valued at $37,000. SG Americas Securities LLC purchased a new stake in shares of Taseko Mines in the 3rd quarter valued at $38,000. Quantinno Capital Management LP purchased a new stake in shares of Taseko Mines in the 3rd quarter valued at $38,000. Ballentine Partners LLC purchased a new position in Taseko Mines in the third quarter valued at $42,000. Finally, Capstone Investment Advisors LLC purchased a new position in Taseko Mines in the third quarter valued at $56,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.