Taseko Mines (NYSE:TGB) Trading 6.6% Higher

Taseko Mines Limited (NYSE:TGB)’s stock price rose 6.6% on Tuesday . The company traded as high as $2.43 and last traded at $2.42. Approximately 354,465 shares changed hands during trading, a decline of 87% from the average daily volume of 2,693,944 shares. The stock had previously closed at $2.27.

Analyst Ratings Changes

Separately, Cantor Fitzgerald upgraded Taseko Mines to a “strong-buy” rating in a research note on Thursday, June 13th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Taseko Mines presently has an average rating of “Buy” and an average target price of $3.50.

Taseko Mines Stock Performance

The stock has a market capitalization of $709.02 million, a PE ratio of 10.10 and a beta of 1.74. The business’s fifty day moving average is $2.14 and its two-hundred day moving average is $2.34. The company has a quick ratio of 1.34, a current ratio of 2.09 and a debt-to-equity ratio of 1.57.

Taseko Mines (NYSE:TGB) last released its earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.10. The firm had revenue of $100.66 million during the quarter, compared to analyst estimates of $88.01 million. Taseko Mines had a net margin of 13.07% and a return on equity of 18.82%. As a group, research analysts anticipate that Taseko Mines Limited will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Keystone Wealth Services LLC bought a new position in Taseko Mines in the 2nd quarter valued at $37,000. Point72 Asset Management L.P. purchased a new stake in shares of Taseko Mines during the second quarter valued at $157,000. Cubist Systematic Strategies LLC grew its holdings in shares of Taseko Mines by 58.6% in the second quarter. Cubist Systematic Strategies LLC now owns 97,497 shares of the company’s stock worth $239,000 after purchasing an additional 36,010 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Taseko Mines by 1,135.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 142,436 shares of the company’s stock worth $306,000 after buying an additional 130,905 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Taseko Mines during the 1st quarter valued at about $307,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.