Taseko Mines (NYSE:TGB) Sees Strong Trading Volume – Here’s Why

Taseko Mines Limited (NYSE:TGB) shares saw an uptick in trading volume on Tuesday . 4,227,937 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 4,165,849 shares.The stock last traded at $2.44 and had previously closed at $2.40.

Analyst Ratings Changes

A number of research firms have commented on TGB. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th. StockNews.com downgraded shares of Taseko Mines from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

Taseko Mines Price Performance

The company has a market capitalization of $746.78 million, a P/E ratio of -80.17 and a beta of 1.61. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The business has a 50 day simple moving average of $2.07 and a 200-day simple moving average of $2.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Abacus Wealth Partners LLC bought a new stake in shares of Taseko Mines during the fourth quarter valued at approximately $29,000. BIP Wealth LLC bought a new stake in Taseko Mines during the 4th quarter valued at $30,000. Cadence Bank bought a new position in shares of Taseko Mines in the fourth quarter worth $32,000. Lido Advisors LLC bought a new position in Taseko Mines in the 4th quarter valued at about $37,000. Finally, Quantinno Capital Management LP acquired a new position in Taseko Mines during the 3rd quarter valued at about $38,000. 17.94% of the stock is owned by institutional investors and hedge funds.

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.