Taseko Mines (NYSEAMERICAN:TGB) Trading Up 6.9% – What’s Next?

Shares of Taseko Mines Limited (NYSEAMERICAN:TGB) rose 6.9% during trading on Tuesday . The company traded as high as $8.99 and last traded at $9.0340. 574,538 shares traded hands during trading, a decline of 90% from the average session volume of 5,994,633 shares. The stock had previously closed at $8.45.

Analysts Set New Price Targets

TGB has been the subject of several recent analyst reports. Jefferies Financial Group began coverage on shares of Taseko Mines in a report on Thursday, August 20th. They issued a “buy” rating for the company. Zacks Research upgraded Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Taseko Mines Trading Up 7.4%

The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $3.32 billion, a P/E ratio of 454.33 and a beta of 1.35. The firm’s 50-day simple moving average is $7.87 and its 200 day simple moving average is $7.40.

Institutional Trading of Taseko Mines

A number of large investors have recently added to or reduced their stakes in TGB. Deutsche Bank AG grew its position in Taseko Mines by 5.8% in the fourth quarter. Deutsche Bank AG now owns 23,956 shares of the company’s stock worth $136,000 after buying an additional 1,322 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Taseko Mines by 1.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 87,543 shares of the company’s stock valued at $495,000 after acquiring an additional 1,642 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Taseko Mines by 22.6% during the 4th quarter. Parallel Advisors LLC now owns 11,049 shares of the company’s stock worth $63,000 after acquiring an additional 2,035 shares in the last quarter. Global IMC LLC grew its holdings in shares of Taseko Mines by 8.9% in the 4th quarter. Global IMC LLC now owns 40,538 shares of the company’s stock worth $230,000 after acquiring an additional 3,320 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Taseko Mines by 1.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 333,210 shares of the company’s stock worth $2,156,000 after acquiring an additional 4,106 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors.

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.