Taseko Mines (NYSE:TGB) Shares Gap Up – Here’s Why

Taseko Mines Limited (NYSE:TGB) gapped up prior to trading on Tuesday . The stock had previously closed at $6.27, but opened at $6.54. Taseko Mines shares last traded at $6.4250, with a volume of 1,536,258 shares changing hands.

Taseko Mines Trading Up 4.2%

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -217.83 and a beta of 1.27. The firm has a fifty day moving average price of $5.16 and a 200-day moving average price of $4.15.

Hedge Funds Weigh In On Taseko Mines

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Taseko Mines by 25.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company’s stock worth $92,000 after acquiring an additional 3,000 shares in the last quarter. Swiss Life Asset Management Ltd bought a new stake in Taseko Mines during the third quarter worth $61,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Taseko Mines in the 3rd quarter valued at $518,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Taseko Mines by 24.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 819,042 shares of the company’s stock valued at $3,443,000 after purchasing an additional 158,362 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new position in shares of Taseko Mines during the 3rd quarter worth $660,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.

About Taseko Mines

Taseko Mines Ltd. is a Vancouver‐based mining company primarily engaged in the exploration, development and production of copper‐based projects. Its flagship operation is the Gibraltar copper mine in central British Columbia, which ranks among Canada’s largest open pit copper producers. In addition to copper, Gibraltar yields byproducts such as molybdenum and silver, reflecting Taseko’s focus on base and precious metals.

Beyond Gibraltar, Taseko holds two advanced development assets. The Florence Copper project in Arizona employs an in‐situ recovery process to extract copper, positioning it as one of North America’s first large‐scale applications of this technology.