Taseko Mines (NYSE:TGB) Shares Gap Down to $2.49

Taseko Mines Limited (NYSE:TGBGet Free Report) gapped down prior to trading on Friday . The stock had previously closed at $2.49, but opened at $2.37. Taseko Mines shares last traded at $2.37, with a volume of 322,425 shares.

Analysts Set New Price Targets

TGB has been the topic of a number of research analyst reports. TD Securities upped their price target on Taseko Mines from $3.25 to $3.50 and gave the company a “buy” rating in a report on Tuesday, March 26th. TheStreet raised Taseko Mines from a “d” rating to a “c” rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus assumed coverage on Taseko Mines in a report on Tuesday, March 26th. They set a “buy” rating on the stock.

Get Our Latest Stock Report on Taseko Mines

Taseko Mines Stock Performance

The business has a fifty day simple moving average of $2.57 and a two-hundred day simple moving average of $1.87. The company has a quick ratio of 1.11, a current ratio of 1.97 and a debt-to-equity ratio of 1.34. The company has a market cap of $690.86 million, a P/E ratio of 9.88 and a beta of 1.79.

Taseko Mines (NYSE:TGBGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $91.89 million. Taseko Mines had a return on equity of 11.44% and a net margin of 17.37%. On average, sell-side analysts anticipate that Taseko Mines Limited will post 0.13 EPS for the current year.

Institutional Trading of Taseko Mines

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Aigen Investment Management LP purchased a new stake in shares of Taseko Mines during the third quarter worth about $28,000. Private Wealth Management Group LLC purchased a new stake in shares of Taseko Mines during the 4th quarter worth approximately $38,000. Cahaba Wealth Management Inc. increased its position in Taseko Mines by 38.2% in the fourth 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 during the last quarter. Mackenzie Financial Corp purchased a new stake in Taseko Mines during the fourth quarter valued at $102,000. Finally, Quantbot Technologies LP bought a new position in Taseko Mines during the first quarter valued at $307,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

About Taseko Mines

(Get Free Report)

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.

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