National Bank Financial Weighs in on Taseko Mines Ltd’s Q2 2018 Earnings (TGB)

Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) – Analysts at National Bank Financial issued their Q2 2018 earnings estimates for shares of Taseko Mines in a research report issued on Thursday, July 12th. National Bank Financial analyst D. Demarco anticipates that the mining company will post earnings per share of $0.01 for the quarter. National Bank Financial has a “Outperform” rating on the stock. National Bank Financial also issued estimates for Taseko Mines’ FY2018 earnings at $0.01 EPS.

Get Taseko Mines alerts:

Separately, Zacks Investment Research raised shares of Taseko Mines from a “sell” rating to a “hold” rating in a report on Thursday, June 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $2.50.

Shares of Taseko Mines stock opened at $0.97 on Monday. Taseko Mines has a 52-week low of $0.96 and a 52-week high of $2.46.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last issued its earnings results on Wednesday, May 2nd. The mining company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.07). The firm had revenue of $64.18 million during the quarter, compared to analysts’ expectations of $75.95 million. Taseko Mines had a negative return on equity of 8.19% and a negative net margin of 7.97%. The firm’s quarterly revenue was down 38.5% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in shares of Taseko Mines by 6.1% in the fourth quarter. Renaissance Technologies LLC now owns 6,707,700 shares of the mining company’s stock worth $15,629,000 after purchasing an additional 384,800 shares during the period. State of Tennessee Treasury Department bought a new position in shares of Taseko Mines in the fourth quarter worth approximately $403,000. Alliancebernstein L.P. boosted its position in shares of Taseko Mines by 396.5% in the fourth quarter. Alliancebernstein L.P. now owns 705,641 shares of the mining company’s stock worth $1,644,000 after purchasing an additional 563,521 shares during the period. Millennium Management LLC boosted its position in shares of Taseko Mines by 136.7% in the fourth quarter. Millennium Management LLC now owns 164,872 shares of the mining company’s stock worth $384,000 after purchasing an additional 95,232 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Taseko Mines by 4.1% in the fourth quarter. Two Sigma Investments LP now owns 718,444 shares of the mining company’s stock worth $1,679,000 after purchasing an additional 28,563 shares during the period.

Taseko Mines Company Profile

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.

Featured Story: What do investors mean by earnings per share?