TAG Oil Ltd (TSE:TAO)’s share price traded down 7.4% during mid-day trading on Tuesday . The stock traded as low as C$0.50 and last traded at C$0.50. 16,675 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 40,055 shares. The stock had previously closed at C$0.54.

The stock’s 50-day moving average is $0.56 and its 200-day moving average is $0.60. The company has a market cap of $42.64 million and a P/E ratio of 1.37.

TAG Oil (TSE:TAO) last issued its quarterly earnings results on Thursday, June 29th. The company reported C($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.03) by C($0.01). TAG Oil had a negative return on equity of 7.20% and a negative net margin of 40.36%. The company had revenue of C$6.26 million for the quarter, compared to analysts’ expectations of C$2.00 million. Equities research analysts expect that TAG Oil Ltd will post ($0.06) EPS for the current fiscal year.

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TAG Oil Company Profile

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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