Taseko Mines (NYSE:TGB) Trading Down 3.5% – Here’s Why

Taseko Mines Limited (NYSE:TGB)’s stock price traded down 3.5% on Wednesday . The stock traded as low as $2.21 and last traded at $2.21. 7,923,554 shares changed hands during mid-day trading, an increase of 70% from the average session volume of 4,647,895 shares. The stock had previously closed at $2.29.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th. StockNews.com lowered shares of Taseko Mines from a “hold” rating to a “sell” rating in a research note on Friday, February 21st.

Taseko Mines Stock Performance

The stock’s 50 day moving average price is $2.15 and its two-hundred day moving average price is $2.17. The firm has a market capitalization of $568.44 million, a PE ratio of -61.00 and a beta of 1.61. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48.

Institutional Investors Weigh In On Taseko Mines

Several institutional investors have recently bought and sold shares of TGB. Raymond James Financial Inc. purchased a new position in Taseko Mines in the fourth quarter valued at about $1,070,000. Virtu Financial LLC bought a new position in Taseko Mines in the 4th quarter worth approximately $96,000. Barclays PLC increased its stake in shares of Taseko Mines by 353.3% during the third quarter. Barclays PLC now owns 79,323 shares of the company’s stock valued at $200,000 after acquiring an additional 61,823 shares during the period. Centiva Capital LP raised its stake in shares of Taseko Mines by 125.9% in the 3rd quarter. Centiva Capital LP now owns 196,072 shares of the company’s stock worth $494,000 after buying an additional 109,284 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Taseko Mines by 272.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 53,142 shares of the company’s stock worth $134,000 after purchasing an additional 38,876 shares in the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Taseko Mines Company Profile

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.