Taseko Mines (NYSE:TGB) Sees Strong Trading Volume – Here’s Why

Shares of Taseko Mines Limited (NYSE:TGB) saw unusually-strong trading volume on Tuesday . Approximately 4,227,937 shares changed hands during mid-day trading, an increase of 1% from the previous session’s volume of 4,165,849 shares.The stock last traded at $2.44 and had previously closed at $2.40.

Wall Street Analyst Weigh In

TGB has been the subject of several research reports. StockNews.com cut 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 research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Taseko Mines has an average rating of “Moderate Buy” and an average price target of $3.50.

Taseko Mines Price Performance

The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The company has a market cap of $746.78 million, a price-to-earnings ratio of -80.17 and a beta of 1.61. The business has a 50-day moving average price of $2.07 and a 200 day moving average price of $2.15.

Hedge Funds Weigh In On Taseko Mines

A number of institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its position in shares of Taseko Mines by 296.8% in the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after acquiring an additional 2,364,116 shares in the last quarter. Barclays PLC grew its position in Taseko Mines by 353.3% during the 3rd quarter. Barclays PLC now owns 79,323 shares of the company’s stock worth $200,000 after purchasing an additional 61,823 shares in the last quarter. Centiva Capital LP raised its stake in Taseko Mines by 125.9% during the 3rd quarter. Centiva Capital LP now owns 196,072 shares of the company’s stock valued at $494,000 after purchasing an additional 109,284 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Taseko Mines by 272.5% in the third quarter. BNP Paribas Financial Markets now owns 53,142 shares of the company’s stock valued at $134,000 after purchasing an additional 38,876 shares in the last quarter. Finally, Anthracite Investment Company Inc. boosted its position in shares of Taseko Mines by 6.5% in the third quarter. Anthracite Investment Company Inc. now owns 1,579,460 shares of the company’s stock worth $3,980,000 after buying an additional 96,000 shares during the period. Hedge funds and other institutional investors 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.