Taseko Mines (TGB) Issues Quarterly Earnings Results, Meets Expectations

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) posted its quarterly earnings results on Tuesday. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01), Morningstar.com reports. The business had revenue of $84.09 million for the quarter.

Shares of TGB opened at $0.58 on Wednesday. Taseko Mines has a fifty-two week low of $0.44 and a fifty-two week high of $1.89.

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A number of equities analysts have issued reports on TGB shares. Zacks Investment Research upgraded Taseko Mines from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. National Bank Financial restated a “buy” rating on shares of Taseko Mines in a report on Wednesday, December 5th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $0.75.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Taseko Mines in the 4th quarter worth about $200,000. CIBC World Markets Inc. boosted its stake in Taseko Mines by 44.7% in the 3rd quarter. CIBC World Markets Inc. now owns 492,198 shares of the mining company’s stock worth $394,000 after purchasing an additional 152,148 shares during the period. Credit Suisse AG bought a new position in Taseko Mines in the 3rd quarter worth about $640,000. Greystone Managed Investments Inc. boosted its stake in Taseko Mines by 5.5% in the 4th quarter. Greystone Managed Investments Inc. now owns 3,854,810 shares of the mining company’s stock worth $1,835,000 after purchasing an additional 201,360 shares during the period. Finally, Bank of Montreal Can boosted its stake in Taseko Mines by 37,886.9% in the 4th quarter. Bank of Montreal Can now owns 6,129,570 shares of the mining company’s stock worth $2,899,000 after purchasing an additional 6,113,434 shares during the period.

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About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.

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