Taseko Mines (NYSE:TGB) Sees Large Volume Increase – Here’s Why

Shares of Taseko Mines Limited (NYSE:TGB) saw strong trading volume on Tuesday . 4,227,937 shares were traded during trading, an increase of 1% from the previous session’s volume of 4,165,849 shares.The stock last traded at $2.44 and had previously closed at $2.40.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TGB shares. 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. StockNews.com lowered shares of Taseko Mines from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Taseko Mines currently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

Taseko Mines Stock Up 2.5 %

The firm has a market cap of $760.75 million, a P/E ratio of -81.67 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. The firm has a fifty day moving average of $2.08 and a 200-day moving average of $2.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can increased its holdings in shares of Taseko Mines by 296.8% during the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after acquiring an additional 2,364,116 shares during the last quarter. Barclays PLC lifted its stake in shares of Taseko Mines by 353.3% during the 3rd quarter. Barclays PLC now owns 79,323 shares of the company’s stock worth $200,000 after buying an additional 61,823 shares during the last quarter. Centiva Capital LP lifted its stake in shares of Taseko Mines by 125.9% during the 3rd quarter. Centiva Capital LP now owns 196,072 shares of the company’s stock worth $494,000 after buying an additional 109,284 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Taseko Mines by 272.5% during the 3rd 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 during the period. Finally, Anthracite Investment Company Inc. grew its stake in Taseko Mines by 6.5% in the 3rd quarter. Anthracite Investment Company Inc. now owns 1,579,460 shares of the company’s stock valued at $3,980,000 after buying an additional 96,000 shares during 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.