Taseko Mines (NYSE:TGB) Sets New 12-Month Low – Here’s Why

Shares of Taseko Mines Limited (NYSE:TGB) hit a new 52-week low on Friday . The stock traded as low as $1.74 and last traded at $1.81, with a volume of 5776342 shares. The stock had previously closed at $2.06.

Analysts Set New Price Targets

TGB has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Taseko Mines from a “hold” rating to a “sell” rating in a report on Friday, February 21st. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th.

Taseko Mines Trading Down 10.4 %

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The company has a market capitalization of $573.10 million, a PE ratio of -61.50 and a beta of 1.61. The business has a fifty day moving average price of $2.15 and a 200 day moving average price of $2.17.

Institutional Investors Weigh In On Taseko Mines

Several large investors have recently made changes to their positions in TGB. Quantbot Technologies LP acquired a new position in Taseko Mines during the 3rd quarter worth approximately $128,000. BNP Paribas Financial Markets raised its stake in shares of Taseko Mines by 272.5% during the third quarter. BNP Paribas Financial Markets now owns 53,142 shares of the company’s stock valued at $134,000 after purchasing an additional 38,876 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Taseko Mines by 66.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,758 shares of the company’s stock worth $172,000 after purchasing an additional 27,043 shares in the last quarter. Centiva Capital LP boosted its stake in shares of Taseko Mines by 125.9% in the third quarter. Centiva Capital LP now owns 196,072 shares of the company’s stock valued at $494,000 after purchasing an additional 109,284 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in Taseko Mines during the 3rd quarter valued at $38,000. Institutional investors and hedge funds 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.