Taseko Mines (NYSE:TGB) Sees Unusually-High Trading Volume – Here’s What Happened

Taseko Mines Limited (NYSE:TGB) saw unusually-strong trading volume on Wednesday . Approximately 8,196,559 shares traded hands during trading, an increase of 28% from the previous session’s volume of 6,403,661 shares.The stock last traded at $2.17 and had previously closed at $2.06.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TGB shares. StockNews.com cut shares of Taseko Mines from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. National Bank Financial upgraded shares of 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Taseko Mines has a consensus rating of “Moderate Buy” and a consensus target price of $3.50.

Taseko Mines Price Performance

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The firm’s 50 day moving average is $2.06 and its 200 day moving average is $2.15. The firm has a market cap of $723.49 million, a P/E ratio of -77.67 and a beta of 1.61.

Institutional Investors Weigh In On Taseko Mines

Several hedge funds have recently bought and sold shares of TGB. Aigen Investment Management LP bought a new stake in Taseko Mines during the third quarter worth about $199,000. Anthracite Investment Company Inc. lifted its stake in shares of Taseko Mines by 6.5% in the third quarter. Anthracite Investment Company Inc. now owns 1,579,460 shares of the company’s stock worth $3,980,000 after buying an additional 96,000 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Taseko Mines by 296.8% in the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after buying an additional 2,364,116 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Taseko Mines in the third quarter worth approximately $128,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Taseko Mines by 272.5% in the third quarter. BNP Paribas Financial Markets now owns 53,142 shares of the company’s stock worth $134,000 after buying an additional 38,876 shares in the last quarter. Institutional investors own 17.94% of the company’s stock.

About Taseko Mines

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.