Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.

One such stock that you may want to consider dropping is Taseko Mines Ltd. (TGB), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current year. A Zacks Rank #4 (Sell) further confirms weakness in TGB.

A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 1 estimate moving down in the past 30 days, compared with no upward revision. This trend has caused the consensus estimate to trend lower, going from 7 cents a share a month ago to its current level of 6 cents.

However for the current quarter, estimates have remained flat.

The stock also has seen some pretty dismal trading lately, as the share price has dropped 22% in the past month.

So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.

If you are still interested in the Mining – Miscellaneous sector, you may instead consider some better-ranked stocks including U.S. Silica Holdings, Inc. (SLCA), Golden Minerals Company (AUMN) and Dominion Diamond Corporation (DDC). While U.S. Silica Holdings is a Zacks Rank #1 (Strong Buy) stock, Golden Minerals and Dominion Diamond hold a Zacks Rank #2 (Buy) and may be better selections at this time.

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