Taseko Mines (NYSE:TGB) Stock Price Down 2.6%

Taseko Mines Limited (NYSE:TGB) traded down 2.6% during trading on Monday . The stock traded as low as $2.56 and last traded at $2.58. 401,518 shares traded hands during trading, a decline of 85% from the average session volume of 2,630,732 shares. The stock had previously closed at $2.65.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TGB. Stifel Nicolaus started coverage on shares of Taseko Mines in a research report on Tuesday, March 26th. They set a “buy” rating for the company. TheStreet upgraded shares of Taseko Mines from a “d” rating to a “c” rating in a research report on Thursday, March 14th. TD Securities increased their target price on Taseko Mines from $3.25 to $3.50 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Cantor Fitzgerald raised Taseko Mines to a “strong-buy” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Taseko Mines currently has an average rating of “Buy” and a consensus price target of $3.03.

Taseko Mines Price Performance

The firm’s 50 day simple moving average is $2.58 and its two-hundred day simple moving average is $2.06. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.97 and a quick ratio of 1.11. The firm has a market capitalization of $744.11 million, a P/E ratio of 21.33 and a beta of 1.75.

Taseko Mines (NYSE:TGB) last released its earnings results on Wednesday, May 1st. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Taseko Mines had a return on equity of 11.44% and a net margin of 17.37%. The company had revenue of $109.00 million during the quarter, compared to analyst estimates of $91.89 million. As a group, analysts predict that Taseko Mines Limited will post 0.14 earnings per share for the current year.

Institutional Trading of Taseko Mines

A number of institutional investors have recently made changes to their positions in TGB. Private Wealth Management Group LLC purchased a new position in Taseko Mines during the 4th quarter valued at about $38,000. Cahaba Wealth Management Inc. increased its stake 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 valued at $51,000 after buying an additional 9,980 shares during the period. Mackenzie Financial Corp bought a new position in shares of Taseko Mines during the fourth quarter valued at approximately $102,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Taseko Mines by 1,135.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 142,436 shares of the company’s stock valued at $306,000 after acquiring an additional 130,905 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Taseko Mines in the first quarter valued at $307,000. 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.