Taseko Mines (NYSE:TGB) Shares Up 9.4% – Time to Buy?

Taseko Mines Limited (NYSE:TGB)’s share price traded up 9.4% on Wednesday . The stock traded as high as $2.26 and last traded at $2.27. 2,939,196 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 4,494,282 shares. The stock had previously closed at $2.07.

Analyst Ratings Changes

TGB has been the subject of a number of research analyst reports. StockNews.com downgraded Taseko Mines from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.50.

Taseko Mines Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The company has a market cap of $684.00 million, a PE ratio of -74.83 and a beta of 1.70. The firm has a fifty day simple moving average of $2.02 and a 200-day simple moving average of $2.15.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its holdings in shares of Taseko Mines by 8.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 94,776 shares of the company’s stock valued at $185,000 after purchasing an additional 6,987 shares during the period. Two Sigma Advisers LP lifted its position in Taseko Mines by 14.4% in the fourth quarter. Two Sigma Advisers LP now owns 442,900 shares of the company’s stock worth $859,000 after purchasing an additional 55,600 shares during the period. Two Sigma Investments LP raised its position in Taseko Mines by 6.3% in the 4th quarter. Two Sigma Investments LP now owns 998,760 shares of the company’s stock valued at $1,938,000 after purchasing an additional 59,537 shares during the last quarter. Man Group plc acquired a new position in shares of Taseko Mines during the fourth quarter valued at $236,000. Finally, Millennium Management LLC grew its position in shares of Taseko Mines by 105.0% in the 4th quarter. Millennium Management LLC now owns 1,174,453 shares of the company’s stock valued at $2,279,000 after purchasing an additional 601,684 shares during the period. 17.94% of the stock is owned by hedge funds and other institutional investors.

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.