Short Interest in Taseko Mines Ltd (TGB) Decreases By 32.8%

Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 144,509 shares, a decline of 32.8% from the January 12th total of 215,151 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 781,306 shares, the days-to-cover ratio is currently 0.2 days.

Shares of Taseko Mines (TGB) traded down $0.02 during mid-day trading on Friday, hitting $1.58. 1,316,924 shares of the stock traded hands, compared to its average volume of 1,011,037. The firm has a market cap of $382.39, a PE ratio of 9.41 and a beta of 2.40. Taseko Mines has a 1 year low of $1.00 and a 1 year high of $2.46.

Hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new position in shares of Taseko Mines during the 4th quarter valued at about $132,000. Bank of Montreal Can boosted its position in shares of Taseko Mines by 93.9% during the 4th quarter. Bank of Montreal Can now owns 67,543 shares of the mining company’s stock valued at $158,000 after acquiring an additional 32,713 shares during the last quarter. CIBC World Markets Inc. boosted its position in shares of Taseko Mines by 355.9% during the 4th quarter. CIBC World Markets Inc. now owns 68,185 shares of the mining company’s stock valued at $159,000 after acquiring an additional 53,230 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Taseko Mines during the 3rd quarter valued at about $168,000. Finally, Wells Fargo & Company MN boosted its position in shares of Taseko Mines by 342.5% during the 3rd quarter. Wells Fargo & Company MN now owns 103,550 shares of the mining company’s stock valued at $191,000 after acquiring an additional 80,150 shares during the last quarter.

TGB has been the topic of several recent research reports. Zacks Investment Research raised shares of Taseko Mines from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research note on Friday, October 20th. BidaskClub cut shares of Taseko Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. Finally, Cantor Fitzgerald began coverage on shares of Taseko Mines in a research report on Friday, January 26th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Taseko Mines presently has a consensus rating of “Buy” and a consensus price target of $2.50.

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Taseko Mines Company Profile

Taseko Mines Limited is a mining company. The Company is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada and the State of Arizona, the United States. Its projects represent a range of metals, including gold, copper and niobium.

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