Taseko Mines (NYSE:TGB) Hits New 1-Year High – Still a Buy?

Taseko Mines Limited (NYSE:TGB) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.98 and last traded at $5.8930, with a volume of 1837796 shares changing hands. The stock had previously closed at $5.60.

Taseko Mines Stock Performance

The stock has a 50 day simple moving average of $5.03 and a 200 day simple moving average of $4.07. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -202.33 and a beta of 1.27. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TGB. Wealth Enhancement Advisory Services LLC acquired a new stake in Taseko Mines during the 3rd quarter valued at $49,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Taseko Mines in the 2nd quarter valued at about $52,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Taseko Mines during the second quarter valued at about $52,000. Swiss Life Asset Management Ltd purchased a new stake in shares of Taseko Mines during the third quarter worth about $61,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Taseko Mines in the third quarter worth about $61,000. 17.94% of the stock is owned by institutional investors and hedge funds.

About Taseko Mines

Taseko Mines Ltd. is a Vancouver‐based mining company primarily engaged in the exploration, development and production of copper‐based projects. Its flagship operation is the Gibraltar copper mine in central British Columbia, which ranks among Canada’s largest open pit copper producers. In addition to copper, Gibraltar yields byproducts such as molybdenum and silver, reflecting Taseko’s focus on base and precious metals.

Beyond Gibraltar, Taseko holds two advanced development assets. The Florence Copper project in Arizona employs an in‐situ recovery process to extract copper, positioning it as one of North America’s first large‐scale applications of this technology.