Taseko Mines (NYSE:TGB) Hits New 12-Month High – Time to Buy?

Taseko Mines Limited (NYSE:TGB) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $7.49 and last traded at $7.4150, with a volume of 5904076 shares traded. The stock had previously closed at $7.06.

Analyst Ratings Changes

Separately, BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research note on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Taseko Mines Stock Performance

The firm has a 50 day moving average of $5.52 and a two-hundred day moving average of $4.33. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The stock has a market cap of $2.60 billion, a PE ratio of -240.00 and a beta of 1.27.

Institutional Trading of Taseko Mines

A number of large investors have recently bought and sold shares of TGB. Mackenzie Financial Corp increased its position in Taseko Mines by 973.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,604,572 shares of the company’s stock worth $5,070,000 after purchasing an additional 1,455,117 shares during the period. L1 Capital Pty Ltd lifted its stake in shares of Taseko Mines by 64.0% in the second quarter. L1 Capital Pty Ltd now owns 20,681,607 shares of the company’s stock valued at $65,148,000 after purchasing an additional 8,072,986 shares during the period. Persistent Asset Partners Ltd increased its holdings in Taseko Mines by 59.7% in the second quarter. Persistent Asset Partners Ltd now owns 168,901 shares of the company’s stock valued at $532,000 after buying an additional 63,132 shares in the last quarter. SG Americas Securities LLC acquired a new position in Taseko Mines during the second quarter worth $308,000. Finally, JPMorgan Chase & Co. grew its holdings in Taseko Mines by 261.5% in the second quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company’s stock valued at $12,661,000 after purchasing an additional 2,907,611 shares during the last quarter. 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.