Taseko Mines (NYSE:TGB) Stock Price Up 9.7% – Still a Buy?

Taseko Mines Limited (NYSE:TGB) shares traded up 9.7% during mid-day trading on Monday . The company traded as high as $2.19 and last traded at $2.15. 777,528 shares changed hands during trading, a decline of 74% from the average session volume of 2,976,699 shares. The stock had previously closed at $1.96.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Taseko Mines from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

Taseko Mines Stock Performance

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The company has a 50 day simple moving average of $2.27 and a 200-day simple moving average of $2.30. The firm has a market cap of $642.54 million, a PE ratio of 11.32 and a beta of 1.72.

Taseko Mines (NYSE:TGB) last released its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $114.08 million for the quarter, compared to the consensus estimate of $112.48 million. Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. As a group, equities research analysts anticipate that Taseko Mines Limited will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its stake in Taseko Mines by 82.3% in the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock worth $34,507,000 after buying an additional 6,182,981 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Taseko Mines by 296.8% during the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after purchasing an additional 2,364,116 shares in the last quarter. Renaissance Technologies LLC grew its stake in Taseko Mines by 14.7% in the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock worth $14,465,000 after purchasing an additional 755,192 shares during the period. American Century Companies Inc. raised its holdings in Taseko Mines by 752.2% in the second quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock worth $1,734,000 after purchasing an additional 621,352 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in Taseko Mines during the second quarter valued at $1,192,000. Institutional investors own 17.94% of the company’s stock.

Taseko Mines Company Profile

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.