Why Taseko Mines Got Drilled By 7% Today

Shares of copper miner Taseko Mines (NYSEMKT: TGB) are down 7% as of 11:30 a.m. EDT, after dropping more than 11% at the market open. After a huge run in the stock price over the past six months, some investors are taking profits today.

The miner announced third-quarter earnings last night in which it reiterated that there have been no interruptions to the operation from the COVID-19 pandemic. But with the price of copper up 30% since late April, and company shares more than tripling in that time, some investors are taking profits on earnings news.

Image source: Getty Images.

Source Fool.com