Taseko Mines (NYSEAMERICAN:TGB) Stock Price Down 9.8% – Time to Sell?

Taseko Mines Limited (NYSEAMERICAN:TGB) traded down 9.8% during mid-day trading on Friday . The company traded as low as $6.90 and last traded at $6.8750. 2,167,654 shares traded hands during trading, a decline of 66% from the average session volume of 6,444,085 shares. The stock had previously closed at $7.62.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Thursday, May 7th. TD Securities restated a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Canaccord Genuity Group boosted their price objective on shares of Taseko Mines from C$13.50 to C$14.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Zacks Research cut shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Taseko Mines presently has an average rating of “Moderate Buy” and an average price target of $7.00.

Taseko Mines Stock Performance

The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 227.74 and a beta of 1.26. The stock’s fifty day moving average is $6.98 and its 200-day moving average is $6.48. The company has a quick ratio of 0.92, a current ratio of 1.37 and a debt-to-equity ratio of 0.88.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its stake in Taseko Mines by 1.2% in the first quarter. The Manufacturers Life Insurance Company now owns 333,210 shares of the company’s stock valued at $2,156,000 after buying an additional 4,106 shares in the last quarter. Sona Asset Management US LLC bought a new position in Taseko Mines in the first quarter valued at approximately $645,000. Themes Management Co LLC lifted its stake in Taseko Mines by 93.4% in the first quarter. Themes Management Co LLC now owns 46,359 shares of the company’s stock valued at $300,000 after buying an additional 22,392 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Taseko Mines in the first quarter valued at approximately $7,198,000. Finally, Renaissance Technologies LLC lifted its stake in Taseko Mines by 4.9% in the first quarter. Renaissance Technologies LLC now owns 5,682,070 shares of the company’s stock valued at $36,649,000 after buying an additional 267,640 shares in the last quarter. Institutional investors own 17.94% of the company’s stock.

About Taseko Mines

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.