Taseko Mines (NYSE:TGB) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Taseko Mines (NYSE:TGB) from a hold rating to a sell rating in a research note released on Wednesday.

Taseko Mines Trading Up 1.3 %

NYSE:TGB opened at $2.01 on Wednesday. Taseko Mines has a 52 week low of $1.14 and a 52 week high of $3.15. The firm has a 50-day moving average price of $2.32 and a two-hundred day moving average price of $2.35. 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 firm has a market cap of $601.90 million, a price-to-earnings ratio of 10.55 and a beta of 1.77.

Taseko Mines (NYSE:TGB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS 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 business had revenue of $114.08 million for the quarter, compared to analysts’ expectations of $112.48 million. On average, equities analysts expect that Taseko Mines will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taseko Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Keystone Wealth Services LLC bought a new stake in Taseko Mines in the second quarter worth about $37,000. SG Americas Securities LLC bought a new stake in shares of Taseko Mines in the 3rd quarter worth approximately $38,000. Quantinno Capital Management LP purchased a new position in Taseko Mines in the third quarter valued at approximately $38,000. Ballentine Partners LLC bought a new position in Taseko Mines during the third quarter valued at $42,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Taseko Mines in the third quarter worth $56,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

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.