Taseko Mines (NYSE:TGB) Shares Down 5.3%

Taseko Mines Limited (NYSE:TGB - Get Free Report)'s share price traded down 5.3% during mid-day trading on Tuesday . The company traded as low as $2.31 and last traded at $2.32. 1,767,205 shares were traded during mid-day trading, a decline of 32% from the average session volume of 2,609,669 shares. The stock had previously closed at $2.45.

Analyst Ratings Changes

A number of brokerages have issued reports on TGB. TheStreet raised Taseko Mines from a "d" rating to a "c" rating in a report on Thursday, March 14th. Stifel Nicolaus assumed coverage on Taseko Mines in a research note on Tuesday, March 26th. They set a "buy" rating for the company. Finally, 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.

Taseko Mines Stock Down 5.7 %

The company has a market capitalization of $673.37 million, a PE ratio of 9.63 and a beta of 1.79. The company has a current ratio of 1.97, a quick ratio of 1.11 and a debt-to-equity ratio of 1.34. The firm has a 50 day simple moving average of $2.57 and a two-hundred day simple moving average of $1.89.

Taseko Mines (NYSE:TGB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Taseko Mines had a net margin of 17.37% and a return on equity of 11.44%. The firm had revenue of $109.00 million during the quarter, compared to analysts' expectations of $91.89 million. Research analysts expect that Taseko Mines Limited will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Taseko Mines

Several institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Taseko Mines by 22.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,620,259 shares of the company's stock worth $10,668,000 after acquiring an additional 1,394,848 shares during the last quarter. Acuitas Investments LLC lifted its stake in Taseko Mines by 36.0% in the 4th quarter. Acuitas Investments LLC now owns 2,141,258 shares of the company's stock valued at $2,998,000 after buying an additional 566,414 shares in the last quarter. Tidal Investments LLC acquired a new stake in Taseko Mines during the 1st quarter valued at $3,508,000. Anthracite Investment Company Inc. purchased a new position in Taseko Mines during the fourth quarter worth $2,077,000. Finally, Herr Investment Group LLC acquired a new position in shares of Taseko Mines in the first quarter worth $326,000. 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.