Taseko Mines (NYSE:TGB) Trading Up 5.4% – Time to Buy?

Taseko Mines Limited (NYSE:TGB) shares shot up 5.4% during mid-day trading on Wednesday . The stock traded as high as $4.79 and last traded at $4.7950. 667,201 shares traded hands during trading, a decline of 92% from the average session volume of 8,553,282 shares. The stock had previously closed at $4.55.

Analyst Ratings Changes

Separately, BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Taseko Mines Stock Up 9.1%

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 firm has a market cap of $1.78 billion, a price-to-earnings ratio of -164.17 and a beta of 1.24. The firm’s fifty day moving average is $4.23 and its two-hundred day moving average is $3.44.

Institutional Investors Weigh In On Taseko Mines

Institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc raised its position in shares of Taseko Mines by 22.2% during the first quarter. TD Asset Management Inc now owns 4,003,547 shares of the company’s stock worth $8,957,000 after purchasing an additional 728,241 shares during the period. Swiss National Bank increased its position in shares of Taseko Mines by 3.8% in the first quarter. Swiss National Bank now owns 593,500 shares of the company’s stock worth $1,329,000 after acquiring an additional 21,500 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Taseko Mines by 44.1% during the first quarter. National Bank of Canada FI now owns 35,844 shares of the company’s stock valued at $78,000 after acquiring an additional 10,973 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Taseko Mines by 21.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,319,863 shares of the company’s stock valued at $25,333,000 after purchasing an additional 2,018,397 shares during the period. Finally, Virtu Financial LLC lifted its holdings in shares of Taseko Mines by 910.6% in the first quarter. Virtu Financial LLC now owns 501,419 shares of the company’s stock valued at $1,123,000 after purchasing an additional 451,803 shares in the last quarter. 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.