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

Taseko Mines Limited (NYSE:TGB) shares saw strong trading volume on Monday . 7,632,506 shares traded hands during mid-day trading, an increase of 74% from the previous session’s volume of 4,396,446 shares.The stock last traded at $2.42 and had previously closed at $2.38.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TGB shares. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. StockNews.com downgraded Taseko Mines from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.50.

Taseko Mines Price Performance

The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $746.78 million, a price-to-earnings ratio of -80.17 and a beta of 1.61. The company’s 50 day moving average is $2.10 and its 200 day moving average is $2.15.

Institutional Trading of Taseko Mines

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantinno Capital Management LP acquired a new position in Taseko Mines during the third quarter worth approximately $38,000. Abacus Wealth Partners LLC purchased a new stake in Taseko Mines in the 4th quarter valued at $29,000. BIP Wealth LLC acquired a new stake in Taseko Mines during the 4th quarter worth $30,000. Cadence Bank purchased a new position in Taseko Mines during the 4th quarter worth $32,000. Finally, Lido Advisors LLC purchased a new position in Taseko Mines during the 4th quarter worth $37,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

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.