Taseko Mines (NYSE:TGB) Shares Up 9.7% – Should You Buy?

Taseko Mines Limited (NYSE:TGB) rose 9.7% on Monday . The company traded as high as $2.19 and last traded at $2.15. Approximately 777,528 shares changed hands during trading, a decline of 74% from the average daily volume of 2,976,699 shares. The stock had previously closed at $1.96.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Taseko Mines from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.50.

Taseko Mines Stock Up 7.7 %

The company has a market capitalization of $642.54 million, a PE ratio of 11.32 and a beta of 1.72. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The company’s 50-day moving average is $2.27 and its 200 day moving average is $2.30.

Taseko Mines (NYSE:TGB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Taseko Mines had a return on equity of 15.25% and a net margin of 12.69%. The firm had revenue of $114.08 million during the quarter, compared to analysts’ expectations of $112.48 million. As a group, analysts anticipate that Taseko Mines Limited will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Taseko Mines

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Taseko Mines during the third quarter valued at approximately $38,000. Quantinno Capital Management LP bought a new stake in shares of Taseko Mines during the 3rd quarter valued at $38,000. Ballentine Partners LLC purchased a new stake in shares of Taseko Mines in the 3rd quarter worth $42,000. Capstone Investment Advisors LLC purchased a new stake in shares of Taseko Mines in the 3rd quarter worth $56,000. Finally, Signaturefd LLC raised its holdings in Taseko Mines by 21.9% in the 3rd quarter. Signaturefd LLC now owns 46,808 shares of the company’s stock worth $118,000 after purchasing an additional 8,397 shares during the period. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

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.