Taseko Mines (NYSE:TGB) Shares Up 6.1% – Here’s What Happened

Taseko Mines Limited (NYSE:TGB) shot up 6.1% during trading on Thursday . The stock traded as high as $2.21 and last traded at $2.19. 1,564,168 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 4,328,715 shares. The stock had previously closed at $2.06.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TGB. National Bank Financial upgraded shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. One 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $3.50.

Taseko Mines Trading Up 6.6 %

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 $668.75 million, a price-to-earnings ratio of 11.50 and a beta of 1.70. The business’s 50-day simple moving average is $2.02 and its 200-day simple moving average is $2.15.

Hedge Funds Weigh In On Taseko Mines

A number of institutional investors have recently modified their holdings of the company. Tidal Investments LLC raised its position in shares of Taseko Mines by 82.3% in the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock valued at $34,507,000 after buying an additional 6,182,981 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Taseko Mines by 2.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,725,601 shares of the company’s stock valued at $20,880,000 after purchasing an additional 297,403 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in 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 grew its holdings in Taseko Mines by 15.6% in the fourth quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company’s stock valued at $12,952,000 after purchasing an additional 900,400 shares during the period. Finally, Bank of Montreal Can grew its holdings in Taseko Mines by 296.8% in the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after purchasing an additional 2,364,116 shares during the period. Institutional investors and hedge funds 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.