Taseko Mines (NYSE:TGB) Shares Down 6.2% – Should You Sell?

Taseko Mines Limited (NYSE:TGB) fell 6.2% during trading on Thursday . The stock traded as low as $4.46 and last traded at $4.4950. 1,175,396 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 8,662,913 shares. The stock had previously closed at $4.79.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Taseko Mines in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Taseko Mines has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Taseko Mines Stock Up 2.8%

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 stock has a market cap of $1.56 billion, a PE ratio of -144.67 and a beta of 1.24. The company’s 50-day moving average price is $4.10 and its 200 day moving average price is $3.31.

Institutional Trading of Taseko Mines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. L1 Capital Pty Ltd grew its stake in shares of Taseko Mines by 18.4% during the 3rd quarter. L1 Capital Pty Ltd now owns 24,479,399 shares of the company’s stock valued at $107,709,000 after acquiring an additional 3,797,792 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Taseko Mines by 21.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,319,863 shares of the company’s stock worth $25,333,000 after purchasing an additional 2,018,397 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Taseko Mines by 2.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,022,109 shares of the company’s stock worth $24,789,000 after purchasing an additional 296,508 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Taseko Mines by 261.5% in the second quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company’s stock worth $12,661,000 after purchasing an additional 2,907,611 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of Taseko Mines by 22.2% during the 1st quarter. TD Asset Management Inc now owns 4,003,547 shares of the company’s stock valued at $8,957,000 after purchasing an additional 728,241 shares during the period. Hedge funds and other institutional investors own 17.94% of the company’s stock.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company’s principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.