Taseko Mines (NYSE:TGB) Shares Gap Up – Here’s What Happened

Taseko Mines Limited (NYSE:TGB) shares gapped up before the market opened on Thursday . The stock had previously closed at $1.97, but opened at $2.03. Taseko Mines shares last traded at $1.98, with a volume of 113,387 shares.

Analysts Set New Price Targets

Several brokerages recently commented on TGB. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Taseko Mines currently has an average rating of “Buy” and an average target price of $3.50.

Taseko Mines Stock Performance

The company has a market capitalization of $598.39 million, a P/E ratio of 10.34 and a beta of 1.72. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The firm has a 50 day moving average price of $2.14 and a two-hundred day moving average price of $2.25.

Taseko Mines (NYSE:TGB) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Taseko Mines had a return on equity of 15.25% and a net margin of 12.69%. The company had revenue of $114.08 million during the quarter, compared to the consensus estimate of $112.48 million. On average, research analysts expect that Taseko Mines Limited will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taseko Mines

Several large investors have recently bought and sold shares of the business. Quantinno Capital Management LP bought a new stake in shares of Taseko Mines during the 3rd quarter valued at $38,000. SG Americas Securities LLC bought a new stake in Taseko Mines in the third quarter valued at about $38,000. Ballentine Partners LLC acquired a new position in Taseko Mines in the third quarter valued at about $42,000. Capstone Investment Advisors LLC acquired a new position in Taseko Mines in the third quarter valued at about $56,000. Finally, Signaturefd LLC boosted its holdings in Taseko Mines by 21.9% during the third quarter. Signaturefd LLC now owns 46,808 shares of the company’s stock worth $118,000 after buying an additional 8,397 shares during the last quarter. 17.94% of the stock is currently 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.