Taseko Mines (NYSE:TGB) Sees Unusually-High Trading Volume – Here’s What Happened

Taseko Mines Limited (NYSE:TGB) shares saw unusually-strong trading volume on Tuesday . Approximately 6,304,037 shares changed hands during trading, an increase of 37% from the previous session’s volume of 4,587,473 shares.The stock last traded at $2.26 and had previously closed at $2.24.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com lowered shares of Taseko Mines from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th.

Taseko Mines Trading Up 0.7 %

The company’s 50-day moving average is $2.14 and its 200-day moving average is $2.17. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $700.46 million, a price-to-earnings ratio of -75.50 and a beta of 1.61.

Hedge Funds Weigh In On Taseko Mines

A number of hedge funds have recently modified their holdings of TGB. Tidal Investments LLC lifted its holdings in shares of Taseko Mines by 82.3% in the 3rd quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock worth $34,507,000 after acquiring an additional 6,182,981 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Taseko Mines by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,725,601 shares of the company’s stock valued at $20,880,000 after acquiring an additional 297,403 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Taseko Mines by 52.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,301,466 shares of the company’s stock valued at $18,095,000 after purchasing an additional 3,217,385 shares during the period. Renaissance Technologies LLC increased its stake in Taseko Mines by 15.6% during the 4th quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company’s stock worth $12,952,000 after buying an additional 900,400 shares during the period. Finally, Bank of Montreal Can lifted its holdings in 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 in the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

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.