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

Taseko Mines (NYSE:TGB) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Taseko Mines Stock Up 1.3 %

Shares of TGB stock traded up $0.02 during trading hours on Wednesday, reaching $2.01. The company had a trading volume of 1,785,252 shares, compared to its average volume of 3,018,114. Taseko Mines has a 12 month low of $1.14 and a 12 month high of $3.15. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The business has a fifty day simple moving average of $2.32 and a 200-day simple moving average of $2.35. The company 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 posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share 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 company had revenue of $114.08 million during the quarter, compared to the consensus estimate of $112.48 million. On average, research analysts expect that Taseko Mines will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Taseko Mines

A number of hedge funds have recently bought and sold shares of the business. Tidal Investments LLC lifted its holdings in Taseko Mines by 82.3% during the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock worth $34,507,000 after acquiring an additional 6,182,981 shares during the period. Renaissance Technologies LLC lifted its holdings in Taseko Mines by 14.7% during the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock worth $14,465,000 after acquiring an additional 755,192 shares during the period. Bank of Montreal Can raised its stake in shares of Taseko Mines by 296.8% in the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after buying an additional 2,364,116 shares during the period. Anthracite Investment Company Inc. raised its stake in shares of Taseko Mines by 6.5% in the third quarter. Anthracite Investment Company Inc. now owns 1,579,460 shares of the company’s stock valued at $3,980,000 after buying an additional 96,000 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Taseko Mines by 11.3% in the second quarter. Millennium Management LLC now owns 1,349,795 shares of the company’s stock valued at $3,315,000 after buying an additional 136,932 shares during the period. 17.94% of the stock is currently owned by institutional investors.

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.