Taseko Mines (NYSE:TGB) Hits New 52-Week High – Time to Buy?

Taseko Mines Limited (NYSE:TGB)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $6.32 and last traded at $6.27, with a volume of 6998067 shares. The stock had previously closed at $5.93.

Taseko Mines Trading Up 5.7%

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The stock has a market capitalization of $2.26 billion, a PE ratio of -209.00 and a beta of 1.27. The business’s 50-day moving average is $5.16 and its two-hundred day moving average is $4.15.

Hedge Funds Weigh In On Taseko Mines

Large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new stake in Taseko Mines in the first quarter valued at $65,000. Goldman Sachs Group Inc. lifted its stake in shares of Taseko Mines by 198.9% in the first quarter. Goldman Sachs Group Inc. now owns 988,072 shares of the company’s stock valued at $2,213,000 after purchasing an additional 657,477 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Taseko Mines by 10.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,541,741 shares of the company’s stock worth $3,454,000 after buying an additional 146,154 shares in the last quarter. Focus Partners Wealth grew its position in Taseko Mines by 19.9% during the first quarter. Focus Partners Wealth now owns 60,200 shares of the company’s stock worth $135,000 after buying an additional 10,000 shares during the period. Finally, Sowell Financial Services LLC increased its holdings in Taseko Mines by 8.7% in the second quarter. Sowell Financial Services LLC now owns 62,331 shares of the company’s stock valued at $196,000 after buying an additional 5,000 shares in the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

Taseko Mines Company Profile

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.