Taseko Mines (NYSE:TGB) Hits New 1-Year Low – What’s Next?

Taseko Mines Limited (NYSE:TGB) shares reached a new 52-week low during trading on Friday . The company traded as low as $1.74 and last traded at $1.81, with a volume of 5776342 shares trading hands. The stock had previously closed at $2.06.

Analyst Ratings Changes

TGB has been the topic of several recent analyst reports. National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th. StockNews.com lowered Taseko Mines from a “hold” rating to a “sell” rating in a research report on Friday, February 21st.

Taseko Mines Stock Performance

The stock’s 50 day simple moving average is $2.15 and its two-hundred day simple moving average is $2.17. 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 stock has a market cap of $568.44 million, a P/E ratio of -61.00 and a beta of 1.48.

Hedge Funds Weigh In On Taseko Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP acquired a new stake in shares of Taseko Mines in the 3rd quarter valued at about $38,000. Abacus Wealth Partners LLC acquired a new stake in Taseko Mines in the 4th quarter valued at approximately $29,000. BIP Wealth LLC bought a new stake in Taseko Mines in the 4th quarter valued at approximately $30,000. Cadence Bank acquired a new position in Taseko Mines during the 4th quarter worth approximately $32,000. Finally, Lido Advisors LLC bought a new position in shares of Taseko Mines during the 4th quarter worth approximately $37,000. 17.94% of the stock is owned by institutional investors and hedge funds.

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.