Taseko Mines (NYSE:TGB) Trading Up 7.7% – Time to Buy?

Taseko Mines Limited (NYSE:TGB)’s share price was up 7.7% during mid-day trading on Tuesday . The company traded as high as $8.35 and last traded at $8.3070. Approximately 896,493 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 9,209,495 shares. The stock had previously closed at $7.71.

Analyst Upgrades and Downgrades

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

Taseko Mines Stock Performance

The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -253.33 and a beta of 1.27. The stock’s fifty day simple moving average is $6.24 and its 200-day simple moving average is $4.66.

Institutional Investors Weigh In On Taseko Mines

Several large investors have recently bought and sold shares of the stock. Abacus Wealth Partners LLC acquired a new position in Taseko Mines during the 4th quarter worth approximately $479,000. Simcoe Capital LLC purchased a new stake in shares of Taseko Mines during the 4th quarter worth $3,243,000. Swiss Life Asset Management Ltd grew its stake in shares of Taseko Mines by 130.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 33,258 shares of the company’s stock worth $188,000 after purchasing an additional 18,826 shares in the last quarter. Nkcfo LLC purchased a new position in Taseko Mines in the fourth quarter valued at $113,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in Taseko Mines in the fourth quarter valued at $226,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.