Taseko Mines (NYSE:TGB) Stock Price Down 6.9% – Here’s What Happened

Taseko Mines Limited (NYSE:TGB)’s stock price fell 6.9% during mid-day trading on Friday . The company traded as low as $2.09 and last traded at $2.09. 1,331,984 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 4,400,677 shares. The stock had previously closed at $2.24.

Analyst Ratings Changes

A number of research firms have commented on TGB. National Bank Financial upgraded shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th. StockNews.com lowered shares of Taseko Mines from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

Taseko Mines Trading Down 8.5 %

The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The company has a market cap of $624.57 million, a price-to-earnings ratio of -68.33 and a beta of 1.70. The firm has a 50-day moving average price of $2.02 and a 200 day moving average price of $2.15.

Institutional Trading of Taseko Mines

Several institutional investors have recently added to or reduced their stakes in TGB. Tidal Investments LLC boosted its holdings in shares of Taseko Mines by 82.3% in the 3rd quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock valued at $34,507,000 after buying an additional 6,182,981 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Taseko Mines by 2.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,725,601 shares of the company’s stock worth $20,880,000 after acquiring an additional 297,403 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Taseko Mines by 52.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,301,466 shares of the company’s stock valued at $18,095,000 after acquiring an additional 3,217,385 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Taseko Mines by 15.6% during the fourth quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company’s stock valued at $12,952,000 after purchasing an additional 900,400 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Taseko Mines by 296.8% during the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after purchasing an additional 2,364,116 shares during the period. Institutional investors own 17.94% of the company’s stock.

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.