Taseko Mines (NYSE:TGB) Shares Gap Up – Still a Buy?

Taseko Mines Limited (NYSE:TGB) gapped up prior to trading on Monday . The stock had previously closed at $7.63, but opened at $8.15. Taseko Mines shares last traded at $8.1890, with a volume of 1,960,673 shares.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reissued 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Taseko Mines Trading Up 2.7%

The stock has a 50-day moving average of $5.64 and a 200 day moving average of $4.40. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The stock has a market cap of $2.83 billion, a PE ratio of -260.17 and a beta of 1.27.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Taseko Mines during the 3rd quarter worth about $49,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Taseko Mines in the 2nd quarter worth about $52,000. Ausdal Financial Partners Inc. acquired a new position in Taseko Mines in the 2nd quarter worth about $52,000. Swiss Life Asset Management Ltd acquired a new stake in Taseko Mines in the third quarter valued at approximately $61,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Taseko Mines in the third quarter valued at approximately $61,000. Institutional investors and hedge funds 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.