Revenue Update on Taseko Mines Ltd (USA)(NYSEMKT:TGB)

Taseko Mines Ltd (USA)(NYSEMKT:TGB) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $41.87M. Analysts estimated a revenue of $46.96M. Earnings per share were $-0.07. Analysts had estimated an EPS of $-0.05.

Taseko Mines Ltd (USA) (TGB) shares turned negative on Fridays trading session with the shares closing down -0.0322 points or -5.44% at a volume of 2,64,172. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $0.6132. The peak price level was also seen at $0.6132 while the days lowest was $0.56. Finally the shares closed at $0.56. The 52-week high of the shares is $0.6975 while the 52-week low is $0.2295. According to the latest information available, the market cap of the company is $124 M.

Taseko Mines Ltd. is a Canada-based mining company. The Company is engaged in acquiring developing and operating large tonnage mineral deposits. Its asset is the 75% owned Gibraltar Mine a copper/molybdenum mine located in central British Columbia. It owns the Florence copper project and also owns the New Prosperity gold-copper Aley niobium and Harmony gold projects. The Company owns a 100% interest in the Florence Copper project though the acquisition of Curis Resources Ltd. The Company owns a 100% interest in the Aley Niobium Project. The Prosperity deposit is a gold-copper porphyry with a one billion tons measured and indicated resource containing approximately 5.3 billion pounds of copper and 13.3 million ounces of gold. Harmony is a gold project located on Graham Island off British Columbia’s west coast with deposits of approximately 64 million tons of 1.35 ounces per ton gold. The Harmony site covers approximately 177 square kilometers and consists of 58 mineral claims.

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