Taseko Mines (NYSE:TGB) Posts Earnings Results, Misses Estimates By $0.01 EPS

Taseko Mines (NYSE:TGB) announced its quarterly earnings results on Thursday. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01), reports. Taseko Mines had a net margin of 2.77% and a return on equity of 7.49%. The firm had revenue of $112.90 million during the quarter.

Taseko Mines Price Performance

Shares of TGB stock traded up $0.10 during mid-day trading on Friday, reaching $1.74. The stock had a trading volume of 4,008,410 shares, compared to its average volume of 1,017,709. Taseko Mines has a 12-month low of $1.05 and a 12-month high of $1.79. The company has a market cap of $505.40 million, a P/E ratio of 87.00 and a beta of 1.94. The business has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.33. The company has a current ratio of 1.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Taseko Mines by 10.0% during the first quarter. JPMorgan Chase & Co. now owns 376,136 shares of the company’s stock valued at $861,000 after acquiring an additional 34,100 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Taseko Mines by 305.3% during the first quarter. American Century Companies Inc. now owns 309,635 shares of the company’s stock valued at $713,000 after acquiring an additional 233,235 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Taseko Mines by 148.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,450 shares of the company’s stock valued at $83,000 after acquiring an additional 21,790 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Taseko Mines by 14.9% during the first quarter. HighTower Advisors LLC now owns 77,196 shares of the company’s stock valued at $176,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Taseko Mines by 663.0% during the first quarter. Bank of Montreal Can now owns 819,644 shares of the company’s stock valued at $1,836,000 after acquiring an additional 712,220 shares during the last quarter. Hedge funds and other institutional investors own 16.75% of the company’s stock.

Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company holds 75% interest in the Gibraltar mine located in British Columbia. It also holds 100% interest in Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.