Taseko Mines (NYSE:TGB) Trading Up 7.3% – Should You Buy?

Taseko Mines Limited (NYSE:TGB)’s share price rose 7.3% during trading on Friday . The company traded as high as $7.66 and last traded at $7.7230. Approximately 8,438,291 shares were traded during trading, a decline of 3% from the average daily volume of 8,674,881 shares. The stock had previously closed at $7.20.

Analysts Set New Price Targets

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Taseko Mines in a report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Taseko Mines Stock Up 6.0%

The firm has a fifty day moving average price of $5.58 and a 200 day moving average price of $4.35. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -254.33 and a beta of 1.27. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TGB. Wealth Enhancement Advisory Services LLC increased its position in shares of Taseko Mines by 25.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company’s stock worth $92,000 after acquiring an additional 3,000 shares in the last quarter. Sowell Financial Services LLC increased its holdings in Taseko Mines by 8.7% in the 2nd quarter. Sowell Financial Services LLC now owns 62,331 shares of the company’s stock valued at $196,000 after purchasing an additional 5,000 shares in the last quarter. CenterBook Partners LP increased its holdings in Taseko Mines by 0.7% in the 3rd quarter. CenterBook Partners LP now owns 774,437 shares of the company’s stock valued at $3,276,000 after purchasing an additional 5,007 shares in the last quarter. Carrera Capital Advisors raised its position in Taseko Mines by 0.8% in the third quarter. Carrera Capital Advisors now owns 706,110 shares of the company’s stock valued at $2,987,000 after purchasing an additional 5,425 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Taseko Mines by 12.2% during the third quarter. National Bank of Canada FI now owns 58,640 shares of the company’s stock worth $247,000 after purchasing an additional 6,399 shares in the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Company Profile

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.