Taseko Mines (NYSE:TGB) Hits New 12-Month High at $2.59

Taseko Mines Limited (NYSE:TGB) reached a new 52-week high during trading on Monday . The stock traded as high as $2.59 and last traded at $2.58, with a volume of 951650 shares changing hands. The stock had previously closed at $2.49.

Analyst Upgrades and Downgrades

TGB has been the subject of several research reports. TheStreet raised shares of Taseko Mines from a “d” rating to a “c” rating in a report on Thursday, March 14th. TD Securities lifted their price target on shares of Taseko Mines from $3.25 to $3.50 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus initiated coverage on shares of Taseko Mines in a report on Tuesday, March 26th. They issued a “buy” rating for the company.

Taseko Mines Price Performance

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.90 and a current ratio of 1.77. The business’s 50 day simple moving average is $1.87 and its 200-day simple moving average is $1.49. The stock has a market capitalization of $723.87 million, a price-to-earnings ratio of 12.45 and a beta of 1.98.

Taseko Mines (NYSE:TGB) last posted its earnings results on Thursday, March 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $112.90 million for the quarter. Taseko Mines had a net margin of 15.66% and a return on equity of 11.54%. Research analysts anticipate that Taseko Mines Limited will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cahaba Wealth Management Inc. boosted its stake in Taseko Mines by 38.2% during the 4th quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock valued at $51,000 after purchasing an additional 9,980 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Taseko Mines in the 3rd quarter worth approximately $28,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Taseko Mines by 6.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,225,411 shares of the company’s stock worth $7,906,000 after acquiring an additional 394,376 shares during the period. Barclays PLC lifted its stake in shares of Taseko Mines by 973.5% in the 2nd quarter. Barclays PLC now owns 60,117 shares of the company’s stock worth $86,000 after acquiring an additional 54,517 shares during the period. Finally, Acuitas Investments LLC lifted its stake in shares of Taseko Mines by 29.8% in the 3rd quarter. Acuitas Investments LLC now owns 1,574,844 shares of the company’s stock worth $2,000,000 after acquiring an additional 361,227 shares during the period. 17.94% of the stock is owned by institutional investors and hedge funds.

Taseko Mines Company Profile

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.