Taseko Mines (NYSE:TGB) Reaches New 52-Week High – Time to Buy?

Taseko Mines Limited (NYSE:TGB)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.38 and last traded at $8.1980, with a volume of 2288258 shares traded. The stock had previously closed at $8.22.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets restated 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $5.00.

Taseko Mines Stock Performance

The company has a market capitalization of $2.95 billion, a PE ratio of -271.83 and a beta of 1.27. The stock’s fifty day simple moving average is $5.79 and its 200-day simple moving average is $4.46. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71.

Institutional Trading of Taseko Mines

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Intact Investment Management Inc. lifted its holdings in shares of Taseko Mines by 17.8% during the 3rd 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 period. Mackenzie Financial Corp boosted its holdings in Taseko Mines by 973.6% in the second quarter. Mackenzie Financial Corp now owns 1,604,572 shares of the company’s stock valued at $5,070,000 after acquiring an additional 1,455,117 shares during the last quarter. L1 Capital Pty Ltd grew its position in Taseko Mines by 64.0% during the second quarter. L1 Capital Pty Ltd now owns 20,681,607 shares of the company’s stock valued at $65,148,000 after acquiring an additional 8,072,986 shares during the period. Persistent Asset Partners Ltd grew its position in Taseko Mines by 59.7% during the second quarter. Persistent Asset Partners Ltd now owns 168,901 shares of the company’s stock valued at $532,000 after acquiring an additional 63,132 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Taseko Mines during the second quarter worth about $308,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

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.