What happened

Shares of Taseko Mines Ltd (NYSEMKT:TGB) plunged as much as 17.6% in trading Thursday after reporting fourth-quarter 2017 results. Shares recovered slightly as the day went on but were down 10.4% as of 12:20 p.m EST.

So what

Operations are improving, but investors are disappointed with the profits being posted by Taseko. Revenue was up slightly in the fourth quarter to $95.4 million and adjusted net loss was $1.5 million, or a penny per share. Revenue topped the $88.3 million analysts were expecting, but earnings fell well short of the $0.08 estimate.

A wide-angle view of a working open pit mine.

Image source: Getty Images.

Wildfires in British Columbia have impacted operations since last summer and are delaying operations into 2018. If there's a broad disappointment investors are seeing on Thursday, it's those delays impacting operations.

Now what

Until Taseko proves it can live up to operational plans, I don't see a reason to buy the stock -- despite a falling share price. Earnings estimates for 2018 of $0.35 from Wall Street are probably going to be on the high end of what's possible and losses could even extend to early in the year. Revenue is a strong point, but if money isn't flowing to the bottom line, it leaves a lot to be desired for investors. 

Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.