Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totalling 80,100 shares, an increase of 109.7% from the February 27th total of 38,200 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 580,300 shares, the days-to-cover ratio is presently 0.1 days.
Large investors have recently modified their holdings of the business. TD Asset Management Inc. purchased a new position in Taseko Mines during the fourth quarter valued at approximately $25,000. Islay Capital Management LLC purchased a new position in Taseko Mines during the fourth quarter valued at approximately $34,000. Bank of Montreal Can lifted its holdings in Taseko Mines by 38.1% during the fourth quarter. Bank of Montreal Can now owns 271,903 shares of the mining company’s stock valued at $131,000 after purchasing an additional 75,000 shares in the last quarter. CIBC World Markets Inc. raised its position in shares of Taseko Mines by 27.6% during the fourth quarter. CIBC World Markets Inc. now owns 437,116 shares of the mining company’s stock valued at $210,000 after buying an additional 94,511 shares during the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in shares of Taseko Mines during the third quarter valued at approximately $926,000.
Shares of TGB traded down $0.01 on Thursday, reaching $0.27. The company’s stock had a trading volume of 774,052 shares, compared to its average volume of 654,272. Taseko Mines has a 12-month low of $0.20 and a 12-month high of $0.79.
Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last issued its quarterly earnings results on Thursday, February 20th. The mining company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $67.61 million for the quarter.
TGB has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Taseko Mines from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. National Bank Financial downgraded shares of Taseko Mines from an “outperform” rating to a “sector perform” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Taseko Mines has an average rating of “Hold” and a consensus price target of $0.70.
About Taseko Mines
Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.
Further Reading: Price-Sales Ratio
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