Taseko Mines (NYSE:TGB) Sees Large Volume Increase – Should You Buy?

Taseko Mines Limited (NYSE:TGB) shares saw strong trading volume on Wednesday . 8,196,559 shares traded hands during trading, an increase of 28% from the previous session’s volume of 6,403,661 shares.The stock last traded at $2.17 and had previously closed at $2.06.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com cut 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 investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.50.

Taseko Mines Trading Up 6.6 %

The business has a 50 day moving average of $2.05 and a 200 day moving average of $2.14. The firm has a market cap of $681.57 million, a price-to-earnings ratio of -73.17 and a beta of 1.61. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

Institutional Trading of Taseko Mines

Hedge funds have recently bought and sold shares of the company. Abacus Wealth Partners LLC purchased a new position in shares of Taseko Mines during the 4th quarter worth $29,000. BIP Wealth LLC purchased a new position in Taseko Mines during the fourth quarter worth about $30,000. Cadence Bank acquired a new stake in Taseko Mines in the 4th quarter worth about $32,000. Lido Advisors LLC purchased a new stake in Taseko Mines in the 4th quarter valued at about $37,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Taseko Mines during the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Taseko Mines

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.