Taseko Mines (NYSE:TGB) Trading 3.9% Higher – Here’s Why

Taseko Mines Limited (NYSE:TGB)’s stock price was up 3.9% during mid-day trading on Tuesday . The company traded as high as $2.51 and last traded at $2.52. Approximately 7,678,329 shares changed hands during mid-day trading, an increase of 74% from the average daily volume of 4,414,185 shares. The stock had previously closed at $2.42.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TGB. StockNews.com cut Taseko Mines from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th.

Taseko Mines Stock Down 0.4 %

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The firm has a market capitalization of $754.54 million, a price-to-earnings ratio of -81.00 and a beta of 1.61. The business has a fifty day moving average price of $2.12 and a two-hundred day moving average price of $2.16.

Institutional Trading of Taseko Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantinno Capital Management LP purchased a new stake in Taseko Mines in the third quarter valued at $38,000. Abacus Wealth Partners LLC purchased a new stake in shares of Taseko Mines in the fourth quarter worth about $29,000. BIP Wealth LLC acquired a new stake in Taseko Mines during the fourth quarter worth about $30,000. Cadence Bank purchased a new position in Taseko Mines during the fourth quarter valued at approximately $32,000. Finally, Lido Advisors LLC acquired a new position in Taseko Mines in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

Taseko Mines Company Profile

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.