Taseko Mines (NYSE:TGB) Sets New 1-Year High – Should You Buy?

Taseko Mines Limited (NYSE:TGB) reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.38 and last traded at $8.1980, with a volume of 2288258 shares changing hands. The stock had previously closed at $8.22.

Analyst Ratings Changes

Separately, BMO Capital Markets reaffirmed an “outperform” rating on shares of Taseko Mines in a research report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Taseko Mines has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Taseko Mines Stock Performance

The company has a fifty day moving average of $5.95 and a two-hundred day moving average of $4.51. The stock has a market capitalization of $2.75 billion, a P/E ratio of -254.00 and a beta of 1.27. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in Taseko Mines during the 1st quarter worth $65,000. Goldman Sachs Group Inc. raised its holdings in Taseko Mines by 198.9% during the first quarter. Goldman Sachs Group Inc. now owns 988,072 shares of the company’s stock worth $2,213,000 after purchasing an additional 657,477 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Taseko Mines by 10.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,541,741 shares of the company’s stock valued at $3,454,000 after purchasing an additional 146,154 shares in the last quarter. Focus Partners Wealth increased its position in shares of Taseko Mines by 19.9% during the 1st quarter. Focus Partners Wealth now owns 60,200 shares of the company’s stock valued at $135,000 after purchasing an additional 10,000 shares during the period. Finally, Verde Servicos Internacionais S.A. bought a new stake in shares of Taseko Mines in the 2nd quarter worth $693,000. 17.94% of the stock is 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.