Taseko Mines (NYSE:TGB) Sees Large Volume Increase – Here’s Why

Taseko Mines Limited (NYSE:TGB) saw an uptick in trading volume on Wednesday . 8,196,559 shares changed hands during trading, an increase of 28% from the previous session’s volume of 6,403,661 shares.The stock last traded at $2.17 and had previously closed at $2.06.

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com downgraded Taseko Mines from a “hold” rating to a “sell” rating in a report on Friday, February 21st. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Taseko Mines currently has an average rating of “Moderate Buy” and an average price target of $3.50.

Taseko Mines Stock Up 6.6 %

The firm has a 50-day simple moving average of $2.05 and a 200 day simple moving average of $2.14. The company has a market capitalization of $681.57 million, a PE ratio of -73.17 and a beta of 1.61. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05.

Hedge Funds Weigh In On Taseko Mines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Abacus Wealth Partners LLC purchased a new stake in shares of Taseko Mines during the fourth quarter valued at approximately $29,000. BIP Wealth LLC acquired a new stake in Taseko Mines during the 4th quarter valued at $30,000. Cadence Bank acquired a new stake in Taseko Mines during the 4th quarter valued at $32,000. Lido Advisors LLC purchased a new stake in Taseko Mines during the 4th quarter worth $37,000. Finally, Quantinno Capital Management LP acquired a new position in Taseko Mines in the 3rd quarter worth $38,000. 17.94% of the stock is owned by institutional investors and hedge funds.

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.