Taseko Mines (NYSE:TGB) Sees Large Volume Increase – Here’s What Happened

Taseko Mines Limited (NYSE:TGB) shares saw strong trading volume on Monday . 7,632,506 shares traded hands during mid-day trading, an increase of 74% from the previous session’s volume of 4,396,446 shares.The stock last traded at $2.42 and had previously closed at $2.38.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TGB. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. StockNews.com lowered Taseko Mines from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3.50.

Taseko Mines Price Performance

The stock has a market cap of $780.94 million, a price-to-earnings ratio of -83.50 and a beta of 1.61. 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 stock’s 50 day simple moving average is $2.12 and its two-hundred day simple moving average is $2.16.

Institutional Trading of Taseko Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its holdings in Taseko Mines by 296.8% during 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 in the last quarter. Quantbot Technologies LP acquired a new stake in Taseko Mines in the 3rd quarter valued at $128,000. BNP Paribas Financial Markets grew its position in 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 acquiring an additional 38,876 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Taseko Mines by 66.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,758 shares of the company’s stock worth $172,000 after acquiring an additional 27,043 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Taseko Mines in the 3rd quarter valued at $56,000. 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.