Taseko Mines (NYSE:TGB) Shares Down 9.1% – Here’s What Happened

Taseko Mines Limited (NYSE:TGB) shares traded down 9.1% during trading on Tuesday . The stock traded as low as $7.54 and last traded at $7.5380. 1,155,191 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 8,691,980 shares. The stock had previously closed at $8.29.

Analyst Ratings Changes

Separately, BMO Capital Markets reiterated 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Taseko Mines Stock Down 3.9%

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 firm’s 50-day simple moving average is $6.70 and its 200 day simple moving average is $4.93. The stock has a market capitalization of $2.90 billion, a P/E ratio of -265.67 and a beta of 1.25.

Institutional Investors Weigh In On Taseko Mines

Several hedge funds have recently added to or reduced their stakes in the business. L1 Capital Pty Ltd boosted its position in Taseko Mines by 45.2% during the fourth quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock worth $201,190,000 after purchasing an additional 11,066,233 shares during the period. TD Asset Management Inc grew its stake in Taseko Mines by 815.7% in the 4th quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock valued at $20,608,000 after buying an additional 3,238,558 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Taseko Mines by 261.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company’s stock valued at $12,661,000 after acquiring an additional 2,907,611 shares during the period. Montrusco Bolton Investments Inc. acquired a new stake in Taseko Mines during the third quarter worth approximately $12,260,000. Finally, Hatch Cove Capital LLC bought a new stake in shares of Taseko Mines during the fourth quarter worth approximately $14,773,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

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.