Short Interest in Taseko Mines Ltd (TGB) Declines By 31.1%
Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 139,409 shares, a decrease of 31.1% from the December 14th total of 202,262 shares. Based on an average daily volume of 652,876 shares, the days-to-cover ratio is presently 0.2 days.
Several large investors have recently modified their holdings of the company. CIBC World Markets Inc. increased its holdings in shares of Taseko Mines by 44.7% in the 3rd quarter. CIBC World Markets Inc. now owns 492,198 shares of the mining company’s stock worth $394,000 after buying an additional 152,148 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Taseko Mines by 11.1% in the 3rd quarter. Renaissance Technologies LLC now owns 6,994,904 shares of the mining company’s stock worth $5,596,000 after buying an additional 699,104 shares during the last quarter. Finally, Credit Suisse AG bought a new position in shares of Taseko Mines in the 3rd quarter worth $640,000.
Several research firms have issued reports on TGB. Zacks Investment Research upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. National Bank Financial reiterated a “buy” rating on shares of Taseko Mines in a research note on Wednesday, December 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $0.75.
Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last issued its quarterly earnings results on Wednesday, October 31st. The mining company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $56.85 million for the quarter.
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About Taseko Mines
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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