Taseko Mines (NYSE:TGB) Reaches New 52-Week High – What’s Next?

Taseko Mines Limited (NYSE:TGB) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $7.49 and last traded at $7.4150, with a volume of 5904076 shares. The stock had previously closed at $7.06.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Taseko Mines in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.00.

Taseko Mines Price Performance

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 business’s fifty day simple moving average is $5.52 and its 200 day simple moving average is $4.33. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -240.00 and a beta of 1.27.

Institutional Investors Weigh In On Taseko Mines

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new position in Taseko Mines in the third quarter worth $49,000. Brevan Howard Capital Management LP bought a new position in shares of Taseko Mines in the 3rd quarter worth about $61,000. Swiss Life Asset Management Ltd acquired a new position in shares of Taseko Mines in the 3rd quarter valued at about $61,000. SIH Partners LLLP acquired a new position in shares of Taseko Mines in the 3rd quarter valued at about $62,000. Finally, BIP Wealth LLC bought a new stake in shares of Taseko Mines during the 4th quarter valued at about $89,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Taseko Mines Company Profile

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.