Taseko Mines (NYSE:TGB) Reaches New 1-Year High – Time to Buy?

Taseko Mines Limited (NYSE:TGB) shares reached a new 52-week high on Wednesday . The stock traded as high as $9.25 and last traded at $8.6780, with a volume of 1316577 shares traded. The stock had previously closed at $8.83.

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 investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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 firm has a market capitalization of $2.95 billion, a PE ratio of -271.83 and a beta of 1.27. The firm’s fifty day moving average price is $6.17 and its 200 day moving average price is $4.63.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Intact Investment Management Inc. grew its stake in shares of Taseko Mines by 17.8% in the third quarter. Intact Investment Management Inc. now owns 1,035,500 shares of the company’s stock worth $4,390,000 after acquiring an additional 156,200 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Taseko Mines by 973.6% in the 2nd quarter. Mackenzie Financial Corp now owns 1,604,572 shares of the company’s stock valued at $5,070,000 after purchasing an additional 1,455,117 shares during the period. L1 Capital Pty Ltd grew its position in Taseko Mines by 64.0% in the 2nd quarter. L1 Capital Pty Ltd now owns 20,681,607 shares of the company’s stock worth $65,148,000 after purchasing an additional 8,072,986 shares during the last quarter. Persistent Asset Partners Ltd increased its holdings in shares of Taseko Mines by 59.7% during the 2nd quarter. Persistent Asset Partners Ltd now owns 168,901 shares of the company’s stock worth $532,000 after purchasing an additional 63,132 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Taseko Mines during the 2nd quarter worth about $308,000. 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.