Taseko Mines (NYSE:TGB) Stock Price Down 5.7%

Shares of Taseko Mines Limited (NYSE:TGB - Get Free Report) were down 5.7% during mid-day trading on Thursday . The company traded as low as $2.30 and last traded at $2.30. Approximately 4,540,487 shares traded hands during trading, an increase of 153% from the average daily volume of 1,794,612 shares. The stock had previously closed at $2.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TGB shares. TheStreet raised Taseko Mines from a "d" rating to a "c" rating in a research note on Thursday, March 14th. Stifel Nicolaus assumed coverage on Taseko Mines in a research note on Tuesday, March 26th. They issued a "buy" rating for the company. Finally, TD Securities raised their price objective on 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 5.9 %

The stock has a market capitalization of $666.65 million, a PE ratio of 11.48 and a beta of 1.99. The firm has a 50 day moving average of $1.71 and a two-hundred day moving average of $1.42. The company has a current ratio of 1.77, a quick ratio of 0.90 and a debt-to-equity ratio of 1.41.

Taseko Mines (NYSE:TGB - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $112.90 million for the quarter. Taseko Mines had a return on equity of 11.54% and a net margin of 15.66%. Equities research analysts anticipate that Taseko Mines Limited will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Taseko Mines

Hedge funds have recently bought and sold shares of the stock. Cahaba Wealth Management Inc. increased its position in Taseko Mines by 38.2% during the fourth 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 in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Taseko Mines during the third quarter worth $28,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Taseko Mines by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,225,411 shares of the company's stock worth $7,906,000 after purchasing an additional 394,376 shares during the last quarter. Barclays PLC boosted its holdings in shares of Taseko Mines by 973.5% during the second quarter. Barclays PLC now owns 60,117 shares of the company's stock worth $86,000 after purchasing an additional 54,517 shares during the last quarter. Finally, Cibc World Market Inc. boosted its holdings in shares of Taseko Mines by 2.5% during the second quarter. Cibc World Market Inc. now owns 416,137 shares of the company's stock worth $599,000 after purchasing an additional 10,264 shares during the last quarter. Hedge funds and other institutional investors 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 87.5% 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.