Short Interest in Taseko Mines Ltd (TGB) Declines By 41.4%

Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) saw a large decline in short interest in September. As of September 14th, there was short interest totalling 232,861 shares, a decline of 41.4% from the August 31st total of 397,064 shares. Based on an average trading volume of 332,948 shares, the days-to-cover ratio is presently 0.7 days.

Hedge funds have recently made changes to their positions in the business. Barclays PLC bought a new stake in Taseko Mines during the 1st quarter valued at $144,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Taseko Mines during the 2nd quarter valued at $230,000. Millennium Management LLC increased its stake in Taseko Mines by 58.8% during the 1st quarter. Millennium Management LLC now owns 261,764 shares of the mining company’s stock valued at $301,000 after purchasing an additional 96,892 shares in the last quarter. Finally, CIBC World Markets Inc. increased its stake in Taseko Mines by 333.0% during the 1st quarter. CIBC World Markets Inc. now owns 295,270 shares of the mining company’s stock valued at $340,000 after purchasing an additional 227,085 shares in the last quarter.

Shares of TGB stock opened at $0.78 on Thursday. Taseko Mines has a 12 month low of $0.68 and a 12 month high of $2.46.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last announced its quarterly earnings results on Tuesday, August 7th. The mining company reported $0.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.01. The business had revenue of $73.06 million during the quarter. Taseko Mines had a negative net margin of 7.97% and a negative return on equity of 8.19%.

Several research firms have recently weighed in on TGB. TheStreet lowered shares of Taseko Mines from a “c-” rating to a “d” rating in a research note on Friday, August 31st. Zacks Investment Research upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. Finally, TD Securities upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $0.75.

Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.

See Also: Earnings Per Share (EPS) Explained

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