Taseko Mines (NYSE:TGB) Sets New 12-Month High – Time to Buy?

Taseko Mines Limited (NYSE:TGB)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $5.49 and last traded at $5.4750, with a volume of 3977686 shares. The stock had previously closed at $5.23.

Taseko Mines Price Performance

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 stock has a market cap of $1.96 billion, a price-to-earnings ratio of -181.33 and a beta of 1.35. The stock has a fifty day moving average of $4.50 and a two-hundred day moving average of $3.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC raised its holdings in Taseko Mines by 8.7% during the second quarter. Sowell Financial Services LLC now owns 62,331 shares of the company’s stock worth $196,000 after buying an additional 5,000 shares during the last quarter. CenterBook Partners LP lifted its position in shares of Taseko Mines by 0.7% during the 3rd quarter. CenterBook Partners LP now owns 774,437 shares of the company’s stock worth $3,276,000 after buying an additional 5,007 shares in the last quarter. Carrera Capital Advisors boosted its position in Taseko Mines by 0.8% in the third quarter. Carrera Capital Advisors now owns 706,110 shares of the company’s stock worth $2,987,000 after purchasing an additional 5,425 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Taseko Mines by 12.2% in the 3rd quarter. National Bank of Canada FI now owns 58,640 shares of the company’s stock worth $247,000 after buying an additional 6,399 shares during the last quarter. Finally, Focus Partners Wealth grew its position in shares of Taseko Mines by 19.9% during the 1st quarter. Focus Partners Wealth now owns 60,200 shares of the company’s stock valued at $135,000 after acquiring an additional 10,000 shares during the period. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Company Profile

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.