TAG Oil Ltd (TSE:TAO) dropped 5.2% on Tuesday . The company traded as low as C$0.55 and last traded at C$0.55. Approximately 10,640 shares changed hands during trading, a decline of 72% from the average daily volume of 37,341 shares. The stock had previously closed at C$0.58.

The firm’s 50 day moving average price is $0.57 and its 200 day moving average price is $0.60. The firm has a market capitalization of $46.91 million and a price-to-earnings ratio of 1.50.

TAG Oil (TSE:TAO) last announced its earnings results on Thursday, June 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $6.26 million for the quarter, compared to analyst estimates of $2 million. TAG Oil had a negative return on equity of 7.20% and a negative net margin of 40.36%. On average, analysts expect that TAG Oil Ltd will post ($0.06) earnings per share for the current year.

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About TAG Oil

TAG Oil Ltd. engages in the exploration, development, and production of oil and gas. The company operates eight exploration and production permits in New Zealand; and an exploration and production permit in Australia. It holds interests in the Taranaki basin located in New Zealand; and a 100% interests in the Petroleum Lease 17 permit that covers 25,700 acres area, which is located in the Surat Basin in Australia.

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