Taseko Mines (NYSE:TGB) Shares Down 9.1% – What’s Next?

Taseko Mines Limited (NYSE:TGB)’s stock price traded down 9.1% on Tuesday . The stock traded as low as $7.54 and last traded at $7.5380. 1,155,191 shares changed hands during trading, a decline of 87% from the average session volume of 8,691,980 shares. The stock had previously closed at $8.29.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reaffirmed an “outperform” rating on shares of Taseko Mines in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Taseko Mines currently has an average rating of “Moderate Buy” and an average target price of $5.00.

Taseko Mines Stock Down 3.9%

The stock has a fifty day moving average of $6.70 and a two-hundred day moving average of $4.93. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -265.67 and a beta of 1.25. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

Institutional Investors Weigh In On Taseko Mines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new position in Taseko Mines during the 4th quarter worth $35,000. Marex Group plc purchased a new stake in shares of Taseko Mines during the fourth quarter valued at $61,000. Parallel Advisors LLC grew its position in Taseko Mines by 22.6% during the 4th quarter. Parallel Advisors LLC now owns 11,049 shares of the company’s stock worth $63,000 after purchasing an additional 2,035 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Taseko Mines in the fourth quarter worth approximately $66,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Taseko Mines during the third quarter valued at $49,000. Institutional investors own 17.94% of the company’s stock.

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.