Taseko Mines (NYSE:TGB) Reaches New 12-Month High at $2.62

Taseko Mines Limited (NYSE:TGB) shares hit a new 52-week high on Monday . The company traded as high as $2.62 and last traded at $2.62, with a volume of 6500 shares trading hands. The stock had previously closed at $2.60.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TGB shares. TD Securities upped their price objective on Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a report on Tuesday, March 26th. TheStreet upgraded Taseko Mines from a “d” rating to a “c” rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus assumed coverage on Taseko Mines in a research note on Tuesday, March 26th. They issued a “buy” rating on the stock.

Taseko Mines Price Performance

The company’s fifty day moving average is $2.07 and its two-hundred day moving average is $1.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.90 and a current ratio of 1.77. The firm has a market cap of $715.15 million, a price-to-earnings ratio of 24.18 and a beta of 1.99.

Taseko Mines (NYSE:TGB) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Taseko Mines had a net margin of 15.66% and a return on equity of 11.54%. The company had revenue of $112.90 million during the quarter. Equities research analysts forecast that Taseko Mines Limited will post 0.16 EPS for the current year.

Institutional Trading of Taseko Mines

Several large investors have recently bought and sold shares of TGB. Acuitas Investments LLC boosted its stake in shares of Taseko Mines by 36.0% in the fourth quarter. Acuitas Investments LLC now owns 2,141,258 shares of the company’s stock valued at $2,998,000 after purchasing an additional 566,414 shares during the period. Cahaba Wealth Management Inc. lifted its holdings in Taseko Mines by 38.2% in the 4th quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock worth $51,000 after buying an additional 9,980 shares in the last quarter. Aigen Investment Management LP purchased a new position in Taseko Mines in the 3rd quarter valued at about $28,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Taseko Mines by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,225,411 shares of the company’s stock valued at $7,906,000 after acquiring an additional 394,376 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Taseko Mines during the fourth quarter worth about $102,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.