Taseko Mines (NYSEAMERICAN:TGB) Announces Earnings Results

by · The Markets Daily

Taseko Mines (NYSEAMERICAN:TGB – Get Free Report) released its earnings results on Wednesday. The company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11, Zacks reports. Taseko Mines had a net margin of 1.59% and a return on equity of 15.33%.

Taseko Mines Stock Performance

Shares of NYSEAMERICAN:TGB traded up $0.14 during trading on Wednesday, hitting $7.56. 4,801,161 shares of the stock were exchanged, compared to its average volume of 5,729,381. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 378.19 and a beta of 1.44. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.76 and a current ratio of 1.24. Taseko Mines has a 1-year low of $3.93 and a 1-year high of $9.82. The company’s fifty day simple moving average is $8.42 and its 200-day simple moving average is $7.64.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group started coverage on shares of Taseko Mines in a research note on Thursday, August 20th. They set a “buy” rating for the company. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Read Our Latest Stock Report on TGB

About Taseko Mines

(Get Free Report)

Taseko Mines Limited is a Canadian mining company focused on the acquisition, development and operation of copper and other mineral properties. The company’s primary producing asset is the Gibraltar Mine in British Columbia, one of Canada’s largest open-pit copper-molybdenum mines. Taseko operates Gibraltar in partnership with Cariboo Copper Corp.

The company also holds interests in several development-stage projects. These include the Florence Copper project in Arizona, which is designed to produce copper through an in-situ recovery process, and the Yellowhead copper, gold and silver project in British Columbia.

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