Taseko Mines (TSE:TKO) Shares Down 9.7% – Here’s Why

Taseko Mines Ltd. (TSE:TKO)’s stock price dropped 9.7% during mid-day trading on Thursday . The company traded as low as C$11.10 and last traded at C$11.13. 828,895 shares traded hands during trading, a decline of 37% from the average daily volume of 1,324,396 shares. The stock had previously closed at C$12.33.

Analyst Ratings Changes

Several research firms have recently weighed in on TKO. Jefferies Financial Group set a C$15.00 price objective on Taseko Mines and gave the company a “buy” rating in a report on Thursday, August 20th. National Bank Financial boosted their price target on Taseko Mines from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$13.62.

Taseko Mines Stock Performance

The firm has a fifty day moving average price of C$11.15 and a 200 day moving average price of C$10.29. The firm has a market capitalization of C$4.10 billion, a price-to-earnings ratio of 373.67 and a beta of 2.00.

Taseko Mines (TSE:TKO) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.11 earnings per share (EPS) for the quarter. Taseko Mines had a net margin of 1.60% and a return on equity of 2.09%. The business had revenue of C$330.55 million during the quarter. Research analysts predict that Taseko Mines Ltd. will post 0.2801932 earnings per share for the current fiscal year.

Taseko Mines Company Profile

Taseko Mines Ltd is a Canadian mining company. It is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada, and the State of Arizona, the United States. The Gibraltar, Aley, New Prosperity, and Harmony properties are located in British Columbia whereas Florence copper is in central Arizona.