Short Interest in Taseko Mines Ltd (TGB) Grows By 15.4%
Taseko Mines Ltd (NYSE:TGB) (TSE:TKO) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 494,711 shares, an increase of 15.4% from the October 31st total of 428,522 shares. Based on an average daily volume of 647,776 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.2% of the shares of the stock are sold short.
Taseko Mines (NYSE:TGB) traded up 10.00% during midday trading on Friday, hitting $0.66. The company had a trading volume of 1,095,612 shares. The company’s market capitalization is $146.41 million. The stock has a 50 day moving average price of $0.48 and a 200 day moving average price of $0.50. Taseko Mines has a 52 week low of $0.23 and a 52 week high of $0.70.
Taseko Mines (NYSE:TGB) last issued its quarterly earnings data on Thursday, October 27th. The mining company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $55.90 million for the quarter, compared to analyst estimates of $45.78 million. During the same period last year, the business posted ($0.01) earnings per share. Taseko Mines’s quarterly revenue was down 30.1% on a year-over-year basis. Equities analysts forecast that Taseko Mines will post ($0.19) earnings per share for the current fiscal year.
TGB has been the subject of a number of research analyst reports. Zacks Investment Research cut Taseko Mines from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Scotiabank reaffirmed an “underperform” rating and issued a $0.50 price target (down from $0.65) on shares of Taseko Mines in a research note on Saturday, October 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $0.73.
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About Taseko Mines
Taseko Mines Limited is a mining company. The Company is engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada and the State of Arizona, the United States. Its operating asset is the Gibraltar Mine, a copper mine located in central British Columbia.
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