Taseko Mines (NYSE:TGB) Shares Gap Up – What’s Next?

Shares of Taseko Mines Limited (NYSE:TGB) gapped up before the market opened on Monday . The stock had previously closed at $2.39, but opened at $2.47. Taseko Mines shares last traded at $2.42, with a volume of 384,922 shares trading hands.

Taseko Mines Stock Down 2.1 %

The stock has a market capitalization of $684.17 million, a price-to-earnings ratio of 9.75 and a beta of 1.74. The company has a quick ratio of 1.34, a current ratio of 2.09 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average of $2.30 and a two-hundred day moving average of $2.40.

Taseko Mines (NYSE:TGB) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. Taseko Mines had a net margin of 13.07% and a return on equity of 18.82%. The firm had revenue of $100.66 million for the quarter, compared to the consensus estimate of $88.01 million. As a group, sell-side analysts anticipate that Taseko Mines Limited will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TGB. Keystone Wealth Services LLC bought a new stake in shares of Taseko Mines in the 2nd quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in Taseko Mines in the third quarter worth approximately $38,000. Signaturefd LLC increased its stake in shares of Taseko Mines by 21.9% during the 3rd quarter. Signaturefd LLC now owns 46,808 shares of the company’s stock worth $118,000 after purchasing an additional 8,397 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Taseko Mines during the 2nd quarter valued at $157,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Taseko Mines by 58.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 97,497 shares of the company’s stock valued at $239,000 after purchasing an additional 36,010 shares during the last quarter. 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.