Taseko Mines (NYSEAMERICAN:TGB) Trading Up 6.9% – Here’s What Happened

Shares of Taseko Mines Limited (NYSEAMERICAN:TGB) traded up 6.9% on Tuesday . The stock traded as high as $8.99 and last traded at $9.0340. 574,538 shares changed hands during trading, a decline of 90% from the average session volume of 5,994,633 shares. The stock had previously closed at $8.45.

Wall Street Analysts Forecast Growth

TGB has been the topic of several research reports. Jefferies Financial Group assumed coverage on Taseko Mines in a research note on Thursday, August 20th. They issued a “buy” rating on the stock. Zacks Research raised shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Taseko Mines Stock Up 0.3%

The firm has a fifty day moving average of $7.95 and a 200-day moving average of $7.41. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.85. The firm has a market cap of $3.27 billion, a P/E ratio of 446.72 and a beta of 1.35.

Institutional Investors Weigh In On Taseko Mines

A number of institutional investors and hedge funds have recently modified their holdings of TGB. Caitong International Asset Management Co. Ltd bought a new position in Taseko Mines during the fourth quarter worth about $35,000. Ausdal Financial Partners Inc. bought a new position in shares of Taseko Mines during the 2nd quarter worth approximately $52,000. Marex Group plc acquired a new position in shares of Taseko Mines during the 4th quarter worth approximately $61,000. Brevan Howard Capital Management LP bought a new stake in Taseko Mines in the 3rd quarter valued at $61,000. Finally, SIH Partners LLLP acquired a new stake in Taseko Mines during the 3rd quarter valued at $62,000. 17.94% of the stock is owned by institutional investors.

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.