Taseko Mines (NYSE:TGB) Sees Large Volume Increase – Here’s What Happened

Taseko Mines Limited (NYSE:TGB) shares saw unusually-strong trading volume on Tuesday . Approximately 6,304,037 shares changed hands during trading, an increase of 37% from the previous session’s volume of 4,587,473 shares.The stock last traded at $2.26 and had previously closed at $2.24.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TGB shares. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. StockNews.com lowered Taseko Mines from a “hold” rating to a “sell” rating in a report on Friday, February 21st.

Taseko Mines Price Performance

The company has a 50 day moving average price of $2.15 and a 200 day moving average price of $2.17. The company has a market capitalization of $666.29 million, a P/E ratio of -71.50 and a beta of 1.61. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48.

Hedge Funds Weigh In On Taseko Mines

A number of large investors have recently made changes to their positions in TGB. Tidal Investments LLC lifted its holdings in shares of Taseko Mines by 82.3% during the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock worth $34,507,000 after buying an additional 6,182,981 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Taseko Mines by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,725,601 shares of the company’s stock worth $20,880,000 after purchasing an additional 297,403 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Taseko Mines by 52.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,301,466 shares of the company’s stock worth $18,095,000 after purchasing an additional 3,217,385 shares during the period. Renaissance Technologies LLC raised its position in shares of Taseko Mines by 15.6% in the fourth quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company’s stock valued at $12,952,000 after buying an additional 900,400 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Taseko Mines by 16.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,802,466 shares of the company’s stock valued at $5,449,000 after buying an additional 396,883 shares during the period. Institutional investors own 17.94% of the company’s stock.

About Taseko Mines

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.