Taseko Mines (NYSE:TGB) Shares Gap Up – Here’s Why

Taseko Mines Limited (NYSE:TGB)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $7.63, but opened at $8.15. Taseko Mines shares last traded at $8.1890, with a volume of 1,960,673 shares trading hands.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Taseko Mines Stock Up 0.4%

The firm’s 50 day moving average is $5.79 and its 200-day moving average is $4.46. The firm has a market cap of $2.98 billion, a PE ratio of -275.00 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.

Hedge Funds Weigh In On Taseko Mines

Several institutional investors have recently added to or reduced their stakes in TGB. Prairiewood Capital LLC grew its holdings in Taseko Mines by 14.3% in the 4th quarter. Prairiewood Capital LLC now owns 16,000 shares of the company’s stock valued at $91,000 after buying an additional 2,000 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Taseko Mines by 25.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company’s stock valued at $92,000 after purchasing an additional 3,000 shares during the period. CenterBook Partners LP increased its position in Taseko Mines by 0.7% during the third quarter. CenterBook Partners LP now owns 774,437 shares of the company’s stock worth $3,276,000 after purchasing an additional 5,007 shares during the last quarter. Carrera Capital Advisors raised its stake in Taseko Mines by 0.8% during 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 period. Finally, National Bank of Canada FI raised its stake in Taseko Mines by 12.2% during the third quarter. National Bank of Canada FI now owns 58,640 shares of the company’s stock worth $247,000 after purchasing an additional 6,399 shares during the period. 17.94% of the stock is currently 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.