Taseko Mines (NYSE:TGB) Shares Up 6.1% – Should You Buy?

Taseko Mines Limited (NYSE:TGB) rose 6.1% during trading on Thursday . The stock traded as high as $2.21 and last traded at $2.19. Approximately 1,564,168 shares were traded during trading, a decline of 64% from the average daily volume of 4,328,715 shares. The stock had previously closed at $2.06.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com lowered Taseko Mines from a “hold” rating to a “sell” rating in a research note on Friday. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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 $624.57 million, a P/E ratio of -68.33 and a beta of 1.70. The business has a fifty day moving average of $2.02 and a 200 day moving average of $2.15.

Hedge Funds Weigh In On Taseko Mines

A number of institutional investors have recently added to or reduced their stakes in TGB. Abacus Wealth Partners LLC bought a new position in Taseko Mines in the fourth quarter worth $29,000. BIP Wealth LLC purchased a new stake in shares of Taseko Mines during the fourth quarter valued at $30,000. Cadence Bank purchased a new position in Taseko Mines in the fourth quarter worth about $32,000. Lido Advisors LLC purchased a new position in Taseko Mines in the fourth quarter worth about $37,000. Finally, Quantinno Capital Management LP purchased a new position in Taseko Mines in the third quarter worth about $38,000. Institutional investors 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.