Taseko Mines (NYSE:TGB) Sees Strong Trading Volume

Taseko Mines Limited (NYSE:TGBGet Free Report) shares saw strong trading volume on Monday . 1,242,621 shares were traded during trading, a decline of 50% from the previous session’s volume of 2,499,683 shares.The stock last traded at $2.66 and had previously closed at $2.76.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Analysis on TGB

Taseko Mines Stock Performance

The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.11 and a current ratio of 1.97. The firm’s 50 day moving average is $2.54 and its 200-day moving average is $1.83. The stock has a market capitalization of $740.41 million, a price-to-earnings ratio of 10.71 and a beta of 1.79.

Taseko Mines (NYSE:TGBGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Taseko Mines had a net margin of 17.37% and a return on equity of 11.44%. The firm had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $91.89 million. Analysts forecast that Taseko Mines Limited will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taseko Mines

Several large investors have recently made changes to their positions in TGB. Aigen Investment Management LP acquired a new position in Taseko Mines during the third quarter worth $28,000. Cahaba Wealth Management Inc. raised its position in Taseko Mines by 38.2% during the fourth quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock worth $51,000 after acquiring an additional 9,980 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Taseko Mines by 22.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,620,259 shares of the company’s stock worth $10,668,000 after acquiring an additional 1,394,848 shares during the period. Mackenzie Financial Corp acquired a new position in Taseko Mines during the fourth quarter worth $102,000. Finally, Acuitas Investments LLC raised its position in Taseko Mines by 36.0% during the fourth quarter. Acuitas Investments LLC now owns 2,141,258 shares of the company’s stock worth $2,998,000 after acquiring an additional 566,414 shares during the period. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Company Profile

(Get Free Report)

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.

Further Reading

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