Taseko Mines (NYSE:TGB) Shares Up 6.1% – Should You Buy?

Taseko Mines Limited (NYSE:TGB) shot up 6.1% during trading on Thursday . The company traded as high as $2.21 and last traded at $2.19. 1,564,168 shares were traded during trading, a decline of 64% from the average session volume of 4,328,715 shares. The stock had previously closed at $2.06.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TGB. StockNews.com cut Taseko Mines from a “hold” rating to a “sell” rating in a research note on Friday. National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Taseko Mines presently has an average rating of “Moderate Buy” and a consensus target price of $3.50.

Taseko Mines Stock Down 8.5 %

The stock has a 50 day moving average of $2.02 and a 200-day moving average of $2.15. The firm has a market capitalization of $624.57 million, a P/E ratio of -68.33 and a beta of 1.70. 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 Investors Weigh In On Taseko Mines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased 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 buying an additional 2,364,116 shares during the period. Dakota Wealth Management grew its holdings in shares of Taseko Mines by 1.5% during the third quarter. Dakota Wealth Management now owns 457,939 shares of the company’s stock worth $1,154,000 after purchasing an additional 6,973 shares in the last quarter. Barclays PLC grew its holdings in shares of Taseko Mines by 353.3% during the third quarter. Barclays PLC now owns 79,323 shares of the company’s stock worth $200,000 after purchasing an additional 61,823 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Taseko Mines during the third quarter worth about $199,000. Finally, Centiva Capital LP grew its holdings in shares of Taseko Mines by 125.9% during the third quarter. Centiva Capital LP now owns 196,072 shares of the company’s stock worth $494,000 after purchasing an additional 109,284 shares in the last quarter. 17.94% of the stock is currently owned by institutional investors.

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.