Taseko Mines (NYSE:TGB) Shares Gap Up – Time to Buy?

Taseko Mines Limited (NYSE:TGB) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.03, but opened at $2.16. Taseko Mines shares last traded at $2.16, with a volume of 1,199,803 shares traded.

Analysts Set New Price Targets

Several research analysts have issued reports on TGB shares. StockNews.com lowered Taseko Mines from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. National Bank Financial upgraded shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

Taseko Mines Trading Up 6.2 %

The business has a 50 day simple moving average of $2.04 and a 200 day simple moving average of $2.15. 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 company has a market cap of $669.15 million, a price-to-earnings ratio of -72.17 and a beta of 1.70.

Institutional Investors Weigh In On Taseko Mines

Hedge funds have recently added to or reduced their stakes in the stock. Aigen Investment Management LP acquired a new position in shares of Taseko Mines during the third quarter worth approximately $199,000. Anthracite Investment Company Inc. boosted its position in Taseko Mines by 6.5% in the 3rd quarter. Anthracite Investment Company Inc. now owns 1,579,460 shares of the company’s stock valued at $3,980,000 after buying an additional 96,000 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Taseko Mines by 296.8% in the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after buying an additional 2,364,116 shares during the period. Quantbot Technologies LP bought a new stake in shares of Taseko Mines during the third quarter worth $128,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Taseko Mines by 272.5% during the third quarter. BNP Paribas Financial Markets now owns 53,142 shares of the company’s stock valued at $134,000 after acquiring an additional 38,876 shares during the period. Institutional investors 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.