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

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

Taseko Mines Stock Performance

Shares of TGB stock opened at $2.01 on Wednesday. The firm’s 50 day moving average is $2.32 and its 200 day moving average is $2.35. The stock has a market capitalization of $601.90 million, a P/E ratio of 10.55 and a beta of 1.77. Taseko Mines has a 12 month low of $1.14 and a 12 month high of $3.15. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48.

Taseko Mines (NYSE:TGB) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (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 return on equity of 15.25% and a net margin of 12.69%. On average, sell-side analysts anticipate that Taseko Mines will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TGB. Keystone Wealth Services LLC bought a new position in shares of Taseko Mines in the second quarter valued at approximately $37,000. SG Americas Securities LLC purchased a new stake in Taseko Mines in the 3rd quarter worth approximately $38,000. Quantinno Capital Management LP bought a new position in Taseko Mines in the 3rd quarter valued at $38,000. Ballentine Partners LLC purchased a new position in shares of Taseko Mines during the 3rd quarter valued at $42,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Taseko Mines in the third quarter worth $56,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.