Taseko Mines Limited Sees Large Growth in Short Interest (TGB)
Taseko Mines Limited (NYSE:TGB) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 776,330 shares, an increase of 15.6% from the July 31st total of 671,312 shares, AR Network reports. Based on an average daily volume of 289,949 shares, the short-interest ratio is presently 2.7 days. Approximately 0.4% of the shares of the company are sold short.
Separately, analysts at Bank of America downgraded shares of Taseko Mines Limited from a “buy” rating to an “underperform” rating in a research note on Friday, July 11th. They now have a $2.60 price target on the stock, down previously from $2.90. They noted that the move was a valuation call.
Taseko Mines Limited (NYSE:TGB) opened at 2.21 on Wednesday. Taseko Mines Limited has a 52-week low of $1.78 and a 52-week high of $2.66. The stock’s 50-day moving average is $2.32 and its 200-day moving average is $2.18. The company’s market cap is $431.0 million.
Taseko Mines Limited (NYSE:TGB) last released its earnings data on Wednesday, July 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.03. The company had revenue of $107.30 million for the quarter, compared to the consensus estimate of $107.80 million. The company’s revenue for the quarter was up 57.3% on a year-over-year basis. On average, analysts predict that Taseko Mines Limited will post $0.07 earnings per share for the current fiscal year.
Taseko Mines Limited 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.
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