Taseko Mines (NYSE:TGB) Lowered to “Sell” Rating by StockNews.com

Taseko Mines (NYSE:TGB) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Taseko Mines Price Performance

NYSE TGB opened at $2.00 on Wednesday. The stock has a market capitalization of $600.39 million, a P/E ratio of 10.53 and a beta of 1.77. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The business’s fifty day moving average is $2.32 and its two-hundred day moving average is $2.34. Taseko Mines has a 1 year low of $1.14 and a 1 year high of $3.15.

Taseko Mines (NYSE:TGB) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $114.08 million for the quarter, compared to analysts’ expectations of $112.48 million. Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. On average, research analysts forecast that Taseko Mines will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Taseko Mines

A number of large investors have recently made changes to their positions in TGB. Tidal Investments LLC raised its position in Taseko Mines by 82.3% during the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock valued at $34,507,000 after buying an additional 6,182,981 shares during the period. Bank of Montreal Can grew its stake in Taseko Mines by 296.8% during the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after acquiring an additional 2,364,116 shares in the last quarter. Renaissance Technologies LLC grew its stake in Taseko Mines by 14.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock valued at $14,465,000 after acquiring an additional 755,192 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Taseko Mines by 752.2% in the 2nd quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock valued at $1,734,000 after purchasing an additional 621,352 shares during the period. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Taseko Mines in the second quarter worth approximately $1,192,000. Institutional investors and hedge funds 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.