Taseko Mines (NYSE:TGB) Sees Large Volume Increase – What’s Next?

Taseko Mines Limited (NYSE:TGB) shares saw strong trading volume on Monday . 7,632,506 shares were traded during mid-day trading, an increase of 74% from the previous session’s volume of 4,396,446 shares.The stock last traded at $2.42 and had previously closed at $2.38.

Analyst Ratings Changes

TGB has been the topic of a number of recent research reports. National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th. StockNews.com cut shares of Taseko Mines from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.50.

Taseko Mines Stock Performance

The company has a market cap of $780.94 million, a P/E ratio of -83.50 and a beta of 1.61. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The company has a 50 day moving average price of $2.12 and a 200-day moving average price of $2.16.

Hedge Funds Weigh In On Taseko Mines

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Taseko Mines by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 145,023 shares of the company’s stock valued at $282,000 after purchasing an additional 5,928 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Taseko Mines by 8.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 94,776 shares of the company’s stock valued at $185,000 after acquiring an additional 6,987 shares during the last quarter. Barclays PLC grew its position in Taseko Mines by 10.8% in the fourth quarter. Barclays PLC now owns 87,899 shares of the company’s stock worth $171,000 after acquiring an additional 8,576 shares in the last quarter. Mariner LLC increased its stake in shares of Taseko Mines by 31.0% during the 4th quarter. Mariner LLC now owns 36,736 shares of the company’s stock worth $71,000 after purchasing an additional 8,693 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Taseko Mines by 88.2% during the 4th quarter. Deutsche Bank AG now owns 19,857 shares of the company’s stock valued at $39,000 after purchasing an additional 9,308 shares in the last quarter. 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.