Taseko Mines (NYSE:TGB) Trading Up 3.4% – Still a Buy?

Taseko Mines Limited (NYSE:TGB) was up 3.4% on Friday . The stock traded as high as $5.92 and last traded at $5.8290. Approximately 2,533,837 shares were traded during trading, a decline of 70% from the average daily volume of 8,407,564 shares. The stock had previously closed at $5.64.

Taseko Mines Stock Performance

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 50 day simple moving average of $4.75 and a 200-day simple moving average of $3.89. The stock has a market capitalization of $2.09 billion, a P/E ratio of -193.50 and a beta of 1.35.

Hedge Funds Weigh In On Taseko Mines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. L1 Capital Pty Ltd bought a new stake in shares of Taseko Mines in the first quarter valued at approximately $28,243,000. JPMorgan Chase & Co. grew its stake in Taseko Mines by 261.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company’s stock valued at $12,661,000 after buying an additional 2,907,611 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new stake in Taseko Mines during the 3rd quarter valued at $12,260,000. Mackenzie Financial Corp raised its holdings in Taseko Mines by 121.7% during the 3rd quarter. Mackenzie Financial Corp now owns 3,556,688 shares of the company’s stock valued at $15,075,000 after acquiring an additional 1,952,116 shares during the period. Finally, Mudita Advisors LLP lifted its position in shares of Taseko Mines by 75.4% during the third quarter. Mudita Advisors LLP now owns 2,788,401 shares of the company’s stock worth $11,795,000 after acquiring an additional 1,198,700 shares in the last quarter. Institutional investors own 17.94% of the company’s stock.

About Taseko Mines

Taseko Mines Ltd. is a Vancouver?based mining company primarily engaged in the exploration, development and production of copper?based projects. Its flagship operation is the Gibraltar copper mine in central British Columbia, which ranks among Canada’s largest open pit copper producers. In addition to copper, Gibraltar yields byproducts such as molybdenum and silver, reflecting Taseko’s focus on base and precious metals.

Beyond Gibraltar, Taseko holds two advanced development assets. The Florence Copper project in Arizona employs an in?situ recovery process to extract copper, positioning it as one of North America’s first large?scale applications of this technology.