Taseko Mines (NYSE:TGB) Shares Down 5.3%

Taseko Mines Limited (NYSE:TGB) shares fell 5.3% during trading on Tuesday . The company traded as low as $2.50 and last traded at $2.52. 904,346 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 2,089,255 shares. The stock had previously closed at $2.66.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TGB. Stifel Nicolaus began coverage on Taseko Mines in a research report on Tuesday, March 26th. They issued a “buy” rating on the stock. TD Securities upped their price objective on Taseko Mines from $3.25 to $3.50 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, TheStreet raised Taseko Mines from a “d” rating to a “c” rating in a research report on Thursday, March 14th.

Taseko Mines Price Performance

The firm has a fifty day moving average price of $2.09 and a two-hundred day moving average price of $1.58. The stock has a market capitalization of $691.89 million, a P/E ratio of 22.36 and a beta of 1.90. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.90 and a current ratio of 1.77.

Taseko Mines (NYSE:TGB) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $112.90 million for the quarter. Taseko Mines had a net margin of 15.66% and a return on equity of 11.54%. As a group, analysts expect that Taseko Mines Limited will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Taseko Mines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acuitas Investments LLC increased its stake in shares of Taseko Mines by 36.0% in the 4th quarter. Acuitas Investments LLC now owns 2,141,258 shares of the company’s stock worth $2,998,000 after purchasing an additional 566,414 shares in the last quarter. Cahaba Wealth Management Inc. increased 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 worth $51,000 after purchasing an additional 9,980 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Taseko Mines in the 3rd quarter worth $28,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Taseko Mines by 6.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,225,411 shares of the company’s stock worth $7,906,000 after purchasing an additional 394,376 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Taseko Mines in the 4th quarter worth $102,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

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.