Taseko Mines (NYSE:TGB) Trading 3.9% Higher – Here’s Why

Taseko Mines Limited (NYSE:TGB) shares traded up 3.9% on Tuesday . The company traded as high as $2.51 and last traded at $2.52. 7,678,329 shares changed hands during trading, an increase of 74% from the average session volume of 4,414,185 shares. The stock had previously closed at $2.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Taseko Mines from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. One equities research 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3.50.

Taseko Mines Stock Up 4.1 %

The firm has a fifty day moving average price of $2.10 and a 200-day moving average price of $2.16. The firm has a market cap of $782.49 million, a price-to-earnings ratio of -84.00 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TGB. Abacus Wealth Partners LLC purchased a new position in shares of Taseko Mines in the 4th quarter worth $29,000. BIP Wealth LLC acquired a new stake in Taseko Mines during the fourth quarter worth about $30,000. Cadence Bank purchased a new position in shares of Taseko Mines in the 4th quarter worth about $32,000. Lido Advisors LLC acquired a new position in shares of Taseko Mines in the 4th quarter valued at about $37,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Taseko Mines during the 3rd quarter worth about $38,000. Institutional investors and hedge funds 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.