Taseko Mines (NYSE:TGB) Trading Up 7.7% – Should You Buy?

Taseko Mines Limited (NYSE:TGB)’s share price shot up 7.7% on Tuesday . The company traded as high as $8.35 and last traded at $8.3070. 896,493 shares were traded during trading, a decline of 90% from the average session volume of 9,209,495 shares. The stock had previously closed at $7.71.

Analysts Set New Price Targets

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 issued a Hold rating to the company’s stock. According to data from MarketBeat, Taseko Mines currently has an average rating of “Moderate Buy” and an average target price of $5.00.

Taseko Mines Price Performance

The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -285.17 and a beta of 1.27. The stock has a fifty day simple moving average of $6.08 and a 200-day simple moving average of $4.59. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48.

Institutional Trading of Taseko Mines

A number of hedge funds have recently bought and sold shares of TGB. Prairiewood Capital LLC grew its position in Taseko Mines by 14.3% in the 4th quarter. Prairiewood Capital LLC now owns 16,000 shares of the company’s stock worth $91,000 after purchasing an additional 2,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Taseko Mines by 25.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company’s stock valued at $92,000 after acquiring an additional 3,000 shares during the period. CenterBook Partners LP raised its holdings in Taseko Mines by 0.7% in the 3rd quarter. CenterBook Partners LP now owns 774,437 shares of the company’s stock valued at $3,276,000 after acquiring an additional 5,007 shares in the last quarter. Carrera Capital Advisors lifted its position in shares of Taseko Mines by 0.8% in the 3rd quarter. Carrera Capital Advisors now owns 706,110 shares of the company’s stock worth $2,987,000 after acquiring an additional 5,425 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Taseko Mines by 12.2% during the 3rd quarter. National Bank of Canada FI now owns 58,640 shares of the company’s stock worth $247,000 after purchasing an additional 6,399 shares in the last quarter. 17.94% of the stock is owned by 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.