Taseko Mines (NYSE:TGB) Shares Up 3.9% – What’s Next?

Taseko Mines Limited (NYSE:TGB) shares traded up 3.9% on Tuesday . The company traded as high as $2.51 and last traded at $2.52. 7,678,329 shares traded hands during mid-day trading, an increase of 74% from the average session volume of 4,414,185 shares. The stock had previously closed at $2.42.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TGB. StockNews.com downgraded shares of Taseko Mines from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th.

Taseko Mines Stock Down 0.4 %

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The business’s 50 day moving average is $2.12 and its 200-day moving average is $2.16. The stock has a market cap of $754.54 million, a price-to-earnings ratio of -81.00 and a beta of 1.61.

Hedge Funds Weigh In On Taseko Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its stake 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 worth $34,507,000 after buying an additional 6,182,981 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Taseko Mines by 52.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,301,466 shares of the company’s stock worth $18,095,000 after purchasing an additional 3,217,385 shares in the last quarter. Bank of Montreal Can lifted its stake in Taseko Mines by 296.8% in the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after purchasing an additional 2,364,116 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Taseko Mines by 15.6% during the 4th quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company’s stock worth $12,952,000 after purchasing an additional 900,400 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Taseko Mines by 105.0% in the fourth quarter. Millennium Management LLC now owns 1,174,453 shares of the company’s stock valued at $2,279,000 after purchasing an additional 601,684 shares in 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.