Taseko Mines (NYSE:TGB) Shares Down 6.9% – What’s Next?

Shares of Taseko Mines Limited (NYSE:TGB) were down 6.9% during mid-day trading on Friday . The stock traded as low as $2.09 and last traded at $2.09. Approximately 1,331,984 shares changed hands during trading, a decline of 70% from the average daily volume of 4,400,677 shares. The stock had previously closed at $2.24.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TGB shares. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th. StockNews.com upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $3.50.

Taseko Mines Stock Performance

The firm’s 50-day moving average price is $2.02 and its 200 day moving average price is $2.15. 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 has a market cap of $620.00 million, a price-to-earnings ratio of 10.71 and a beta of 1.70.

Institutional Investors Weigh In On Taseko Mines

Institutional investors have recently modified their holdings of the business. Bank of Montreal Can grew its position in shares of Taseko Mines by 296.8% during the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after buying an additional 2,364,116 shares during the period. Dakota Wealth Management grew its position in shares of Taseko Mines by 1.5% during the 3rd quarter. Dakota Wealth Management now owns 457,939 shares of the company’s stock worth $1,154,000 after buying an additional 6,973 shares during the period. Barclays PLC grew its position in shares of 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 buying an additional 61,823 shares during the period. Aigen Investment Management LP acquired a new position in Taseko Mines during the third quarter valued at approximately $199,000. Finally, Centiva Capital LP grew its holdings in Taseko Mines by 125.9% during the third 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. Institutional investors and hedge funds 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.