Taseko Mines (NYSE:TGB) Shares Up 4.9%

Taseko Mines Limited (NYSE:TGB)’s stock price rose 4.9% during mid-day trading on Wednesday . The stock traded as high as $2.58 and last traded at $2.57. Approximately 387,050 shares changed hands during trading, a decline of 85% from the average daily volume of 2,633,700 shares. The stock had previously closed at $2.45.

Wall Street Analyst Weigh In

TGB has been the topic of a number of recent research reports. TD Securities upped their target price on Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Cantor Fitzgerald upgraded Taseko Mines to a “strong-buy” rating in a report on Thursday, June 13th. TheStreet upgraded shares of Taseko Mines from a “d” rating to a “c” rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus initiated coverage on shares of Taseko Mines in a research note on Tuesday, March 26th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $3.03.

Taseko Mines Stock Performance

The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.11 and a current ratio of 1.97. The stock’s 50-day simple moving average is $2.58 and its two-hundred day simple moving average is $2.02. The stock has a market cap of $742.64 million, a price-to-earnings ratio of 10.19 and a beta of 1.75.

Taseko Mines (NYSE:TGB) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $91.89 million. Taseko Mines had a return on equity of 11.44% and a net margin of 17.37%. Analysts forecast that Taseko Mines Limited will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Taseko Mines

Several hedge funds have recently made changes to their positions in the stock. Cahaba Wealth Management Inc. boosted its position in shares of Taseko Mines by 38.2% during the 4th quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock valued at $51,000 after acquiring an additional 9,980 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in shares of Taseko Mines in the 4th quarter valued at approximately $38,000. Mackenzie Financial Corp acquired a new position in shares of Taseko Mines in the 4th quarter worth approximately $102,000. CANADA LIFE ASSURANCE Co boosted its stake in Taseko Mines by 1,135.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 142,436 shares of the company’s stock valued at $306,000 after buying an additional 130,905 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Taseko Mines in the first quarter valued at $307,000. Institutional investors 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.