Taseko Mines (NYSEAMERICAN:TGB) Trading 9.3% Higher – Here’s What Happened

Taseko Mines Limited (NYSEAMERICAN:TGB)’s stock price rose 9.3% on Tuesday . The stock traded as high as $7.76 and last traded at $7.6720. Approximately 800,863 shares were traded during trading, a decline of 87% from the average session volume of 6,000,981 shares. The stock had previously closed at $7.02.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald raised shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Thursday, May 7th. Zacks Research raised shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Finally, Canaccord Genuity Group increased their price target on Taseko Mines from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.00.

Taseko Mines Stock Up 9.3%

The business has a 50-day moving average of $7.06 and a 200 day moving average of $7.11. The company has a market capitalization of $2.81 billion, a PE ratio of 256.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.37 and a quick ratio of 0.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TGB. Deutsche Bank AG grew its holdings in shares of Taseko Mines by 5.8% in the fourth quarter. Deutsche Bank AG now owns 23,956 shares of the company’s stock valued at $136,000 after purchasing an additional 1,322 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Taseko Mines by 1.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 87,543 shares of the company’s stock valued at $495,000 after purchasing an additional 1,642 shares during the last quarter. Prairiewood Capital LLC grew its stake in shares of Taseko Mines by 14.3% in the 4th quarter. Prairiewood Capital LLC now owns 16,000 shares of the company’s stock worth $91,000 after buying an additional 2,000 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Taseko Mines by 22.6% in the 4th quarter. Parallel Advisors LLC now owns 11,049 shares of the company’s stock worth $63,000 after buying an additional 2,035 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Taseko Mines by 25.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company’s stock worth $92,000 after buying an additional 3,000 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors.

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.