Taseko Mines (NYSEAMERICAN:TGB) Releases Quarterly Earnings Results, Hits Expectations

Taseko Mines (NYSEAMERICAN:TGB) released its quarterly earnings data on Wednesday. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11, Zacks reports. The business had revenue of $244.56 million during the quarter. Taseko Mines had a return on equity of 15.33% and a net margin of 1.59%.

Taseko Mines Trading Down 6.5%

Shares of TGB stock traded down $0.49 during trading hours on Thursday, reaching $7.07. 2,250,565 shares of the stock traded hands, compared to its average volume of 5,711,986. Taseko Mines has a 1-year low of $3.93 and a 1-year high of $9.82. The business has a fifty day moving average price of $8.38 and a 200 day moving average price of $7.64. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $2.59 billion, a PE ratio of 350.98 and a beta of 1.44.

Wall Street Analysts Forecast Growth

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

About Taseko Mines

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.