Taseko Mines (NYSE:TGB) Stock Price Down 4.4% – Should You Sell?

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

Analyst Ratings Changes

Separately, StockNews.com cut shares of Taseko Mines from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Taseko Mines currently has an average rating of “Moderate Buy” and an average price target of $3.50.

Taseko Mines Price Performance

The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The firm has a fifty day moving average of $2.32 and a two-hundred day moving average of $2.35. The company has a market capitalization of $601.90 million, a PE ratio of 10.55 and a beta of 1.77.

Taseko Mines (NYSE:TGB) last released 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). Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. The company had revenue of $114.08 million for the quarter, compared to analysts’ expectations of $112.48 million. Research analysts anticipate that Taseko Mines Limited will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Taseko Mines

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. grew its stake in shares of Taseko Mines by 752.2% in the second quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock worth $1,734,000 after purchasing an additional 621,352 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Taseko Mines by 87.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 491,388 shares of the company’s stock worth $1,204,000 after buying an additional 229,849 shares during the period. Renaissance Technologies LLC grew its position in shares of Taseko Mines by 14.7% in the 2nd quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock worth $14,465,000 after buying an additional 755,192 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of Taseko Mines during the second quarter valued at approximately $1,192,000. Finally, Dakota Wealth Management raised its holdings in shares of Taseko Mines by 1.5% during the third quarter. Dakota Wealth Management now owns 457,939 shares of the company’s stock valued at $1,154,000 after acquiring an additional 6,973 shares in the last quarter. 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.