Short Interest in Taseko Mines Ltd (TGB) Declines By 31.1%

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Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 139,409 shares, a decline of 31.1% from the December 14th total of 202,262 shares. Based on an average trading volume of 652,876 shares, the short-interest ratio is currently 0.2 days.

Shares of TGB stock opened at $0.62 on Friday. Taseko Mines has a 52-week low of $0.44 and a 52-week high of $2.07.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last released its earnings results on Wednesday, October 31st. The mining company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The business had revenue of $56.85 million for the quarter.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGB. CIBC World Markets Inc. boosted its stake in Taseko Mines by 44.7% in the third quarter. CIBC World Markets Inc. now owns 492,198 shares of the mining company’s stock valued at $394,000 after acquiring an additional 152,148 shares during the last quarter. Credit Suisse AG purchased a new position in Taseko Mines in the third quarter valued at about $640,000. Finally, Renaissance Technologies LLC boosted its stake in Taseko Mines by 11.1% in the third quarter. Renaissance Technologies LLC now owns 6,994,904 shares of the mining company’s stock valued at $5,596,000 after acquiring an additional 699,104 shares during the last quarter.

TGB has been the subject of a number of recent analyst reports. National Bank Financial reaffirmed a “buy” rating on shares of Taseko Mines in a research report on Wednesday, December 5th. Zacks Investment Research raised shares of Taseko Mines from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Taseko Mines has a consensus rating of “Buy” and a consensus target price of $0.75.

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Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.

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