Taseko Mines (NYSE:TGB) Trading Down 4.4% – Should You Sell?

Taseko Mines Limited (NYSE:TGB) shares traded down 4.4% on Tuesday . The stock traded as low as $1.95 and last traded at $1.97. 354,604 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 3,012,967 shares. The stock had previously closed at $2.06.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Taseko Mines from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

Taseko Mines Stock Performance

The stock has a market capitalization of $601.90 million, a P/E ratio of 10.55 and a beta of 1.77. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average price of $2.32 and a two-hundred day moving average price of $2.35.

Taseko Mines (NYSE:TGB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $114.08 million during the quarter, compared to the consensus estimate of $112.48 million. Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. Equities analysts expect that Taseko Mines Limited will post 0.16 earnings per share for the current year.

Institutional Trading of Taseko Mines

Several institutional investors and hedge funds have recently modified their holdings of TGB. Keystone Wealth Services LLC bought a new stake in shares of Taseko Mines during the 2nd quarter worth $37,000. SG Americas Securities LLC bought a new stake in Taseko Mines during the third quarter worth about $38,000. Quantinno Capital Management LP purchased a new position in shares of Taseko Mines in the 3rd quarter worth about $38,000. Ballentine Partners LLC bought a new position in shares of Taseko Mines during the 3rd quarter valued at about $42,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Taseko Mines during the 3rd quarter valued at about $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.