Taseko Mines (NYSE:TGB) Stock Price Down 5.3%

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. 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 price target on shares of Taseko Mines from $3.25 to $3.50 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Stifel Nicolaus started coverage on Taseko Mines in a research note on Tuesday, March 26th. They set a “buy” rating for the company.

Taseko Mines Stock Performance

The firm has a 50-day simple moving average of $2.05 and a two-hundred day simple moving average of $1.57. The company has a market capitalization of $723.87 million, a price-to-earnings ratio of 12.55 and a beta of 1.98. 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 posted its quarterly earnings results on Thursday, March 7th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Taseko Mines had a net margin of 15.66% and a return on equity of 11.54%. The business had revenue of $112.90 million during the quarter. On average, sell-side analysts anticipate that Taseko Mines Limited will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Taseko Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cahaba Wealth Management Inc. raised its position in Taseko Mines by 38.2% during the 4th quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock worth $51,000 after buying an additional 9,980 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Taseko Mines during the 3rd quarter worth approximately $28,000. Private Wealth Management Group LLC acquired a new stake in shares of Taseko Mines in the 4th quarter valued at approximately $38,000. Mackenzie Financial Corp purchased a new stake in shares of Taseko Mines in the fourth quarter valued at approximately $102,000. Finally, Acuitas Investments LLC raised its position in Taseko Mines by 29.8% in the third quarter. Acuitas Investments LLC now owns 1,574,844 shares of the company’s stock worth $2,000,000 after acquiring an additional 361,227 shares in the last quarter. 17.94% of the stock is 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.