Here's Why Taseko Mines Ltd (USA)'s Stock Is Slumping Today

Shares of Taseko Mines (NYSEMKT: TGB) sank more than 13% by 11:15 a.m. EDT on Friday. Driving the sell-off was the market's lukewarm reception to the company's third-quarter results.

Taseko Mines reported adjusted net income of 13.4 million Canadian dollars, or CA$0.06 per share, for the third quarter, which was in line with the consensus estimate. That said, earnings weren't as high as they could have been because wildfires in central British Columbia early in the quarter affected its operations. Despite that disruption, copper production from the company's main Gibraltar mine totaled 35.1 million pounds during the quarter, an increase of 2 million pounds from the year-ago quarter.

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Source: Fool.com