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

Taseko Mines (NYSE:TGB) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Taseko Mines Stock Performance

Shares of NYSE TGB opened at $2.00 on Wednesday. The stock has a market capitalization of $600.39 million, a P/E ratio of 10.53 and a beta of 1.77. The firm’s 50-day moving average price is $2.32 and its two-hundred day moving average price is $2.34. Taseko Mines has a 52-week low of $1.14 and a 52-week high of $3.15. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

Taseko Mines (NYSE:TGB) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (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 company had revenue of $114.08 million for the quarter, compared to analyst estimates of $112.48 million. As a group, sell-side analysts forecast that Taseko Mines will post 0.16 earnings per share for the current year.

Institutional Trading of Taseko Mines

Several large investors have recently added to or reduced their stakes in TGB. Keystone Wealth Services LLC acquired a new position in Taseko Mines during the 2nd quarter valued at about $37,000. SG Americas Securities LLC bought a new position in shares of Taseko Mines in the third quarter valued at approximately $38,000. Quantinno Capital Management LP acquired a new position in shares of Taseko Mines during the third quarter valued at approximately $38,000. Ballentine Partners LLC bought a new stake in Taseko Mines during the third quarter worth approximately $42,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Taseko Mines in the third quarter worth approximately $56,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.

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.