Taseko Mines (NYSE:TGB) Sees Strong Trading Volume

Taseko Mines Limited (NYSE:TGBGet Free Report) saw unusually-high trading volume on Wednesday . Approximately 510,415 shares changed hands during mid-day trading, a decline of 70% from the previous session’s volume of 1,705,438 shares.The stock last traded at $2.37 and had previously closed at $2.33.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TGB. TheStreet upgraded shares of Taseko Mines from a “d” rating to a “c” rating in a research report on Thursday, March 14th. Stifel Nicolaus began coverage on shares of Taseko Mines in a report on Tuesday, March 26th. They set a “buy” rating on the stock. Finally, TD Securities raised their price target on Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a report on Tuesday, March 26th.

Read Our Latest Report on Taseko Mines

Taseko Mines Stock Up 4.3 %

The company’s 50 day simple moving average is $1.67 and its 200-day simple moving average is $1.41. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.90 and a current ratio of 1.77. The firm has a market capitalization of $705.87 million, a PE ratio of 19.91 and a beta of 1.99.

Taseko Mines (NYSE:TGBGet Free Report) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $112.90 million during the quarter. Taseko Mines had a return on equity of 11.54% and a net margin of 15.66%. On average, analysts forecast that Taseko Mines Limited will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Taseko Mines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Taseko Mines by 10.0% in the 1st quarter. JPMorgan Chase & Co. now owns 376,136 shares of the company’s stock worth $861,000 after buying an additional 34,100 shares during the last quarter. American Century Companies Inc. lifted its stake in Taseko Mines by 305.3% in the first quarter. American Century Companies Inc. now owns 309,635 shares of the company’s stock worth $713,000 after purchasing an additional 233,235 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Taseko Mines by 148.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,450 shares of the company’s stock valued at $83,000 after buying an additional 21,790 shares during the period. HighTower Advisors LLC grew its stake in shares of Taseko Mines by 14.9% during the first quarter. HighTower Advisors LLC now owns 77,196 shares of the company’s stock valued at $176,000 after buying an additional 10,000 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Taseko Mines by 663.0% in the first quarter. Bank of Montreal Can now owns 819,644 shares of the company’s stock worth $1,836,000 after buying an additional 712,220 shares during the period. 17.94% of the stock is owned by hedge funds and other institutional investors.

About Taseko Mines

(Get Free Report)

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 87.5% 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.

Further Reading

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