Taseko Mines (NYSE:TGB) Reaches New 12-Month Low – Should You Sell?

Taseko Mines Limited (NYSE:TGB) shares hit a new 52-week low on Friday . The company traded as low as $1.74 and last traded at $1.81, with a volume of 5776342 shares traded. The stock had previously closed at $2.06.

Wall Street Analysts Forecast Growth

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

Taseko Mines Price Performance

The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $568.44 million, a P/E ratio of -61.00 and a beta of 1.48. The company has a 50 day moving average price of $2.15 and a 200 day moving average price of $2.17.

Hedge Funds Weigh In On Taseko Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGB. Quantinno Capital Management LP acquired a new stake in shares of Taseko Mines during the 3rd quarter worth about $38,000. Abacus Wealth Partners LLC acquired a new position in Taseko Mines in the 4th quarter valued at about $29,000. BIP Wealth LLC bought a new position in Taseko Mines in the 4th quarter valued at about $30,000. Cadence Bank acquired a new stake in Taseko Mines during the fourth quarter worth approximately $32,000. Finally, Lido Advisors LLC bought a new stake in shares of Taseko Mines during the fourth quarter worth approximately $37,000. 17.94% of the stock is owned by 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.