TAG Oil Ltd (TAO) Stock Price Down 5.2%
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.
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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