Traders Purchase High Volume of Call Options on Taseko Mines (NYSEAMERICAN:TGB)

Taseko Mines Limited (NYSEAMERICAN:TGB) was the target of some unusual options trading activity on Tuesday. Stock investors bought 14,592 call options on the company. This is an increase of approximately 506% compared to the average volume of 2,406 call options.

Institutional Investors Weigh In On Taseko Mines

Several hedge funds and other institutional investors have recently modified their holdings of the stock. L1 Capital Pty Ltd increased its holdings in Taseko Mines by 45.2% in the fourth quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock valued at $201,190,000 after buying an additional 11,066,233 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Taseko Mines by 11.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,126,773 shares of the company’s stock worth $34,376,000 after purchasing an additional 854,016 shares during the period. Mackenzie Financial Corp lifted its position in shares of Taseko Mines by 78.6% in the 4th quarter. Mackenzie Financial Corp now owns 6,350,898 shares of the company’s stock worth $35,818,000 after buying an additional 2,794,210 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Taseko Mines by 4.9% in the 1st quarter. Renaissance Technologies LLC now owns 5,682,070 shares of the company’s stock valued at $36,649,000 after buying an additional 267,640 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Taseko Mines by 215.3% during the first quarter. Bank of America Corp DE now owns 4,577,781 shares of the company’s stock valued at $29,527,000 after purchasing an additional 3,125,829 shares during the last quarter. Institutional investors own 17.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Canaccord Genuity Group boosted their price objective on Taseko Mines from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, Cantor Fitzgerald upgraded Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Taseko Mines Stock Up 10.0%

Shares of TGB traded up $0.69 during trading on Tuesday, reaching $7.67. The company’s stock had a trading volume of 2,654,294 shares, compared to its average volume of 6,024,299. The company has a fifty day moving average of $7.08 and a two-hundred day moving average of $7.24. Taseko Mines has a twelve month low of $3.00 and a twelve month high of $9.25. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 255.25 and a beta of 1.31. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88.

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.