Taseko Mines (NYSE:TGB) Shares Gap Up to $2.32

Taseko Mines Limited (NYSE:TGB) shares gapped up prior to trading on Monday . The stock had previously closed at $2.32, but opened at $2.42. Taseko Mines shares last traded at $2.38, with a volume of 1,304,053 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TGB. Stifel Nicolaus assumed coverage on shares of Taseko Mines in a report on Tuesday, March 26th. They set a “buy” rating on the stock. TD Securities increased their price target on shares of Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Cantor Fitzgerald raised shares of Taseko Mines to a “strong-buy” rating in a research note on Thursday, June 13th. Finally, TheStreet raised Taseko Mines from a “d” rating to a “c” rating in a research report on Thursday, March 14th. 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. Based on data from MarketBeat, Taseko Mines has an average rating of “Buy” and a consensus price target of $3.03.

Taseko Mines Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.97 and a debt-to-equity ratio of 1.34. The company’s fifty day moving average is $2.57 and its 200 day moving average is $1.93. The stock has a market cap of $752.07 million, a PE ratio of 20.83 and a beta of 1.79.

Taseko Mines (NYSE:TGB) last issued its earnings results on Wednesday, May 1st. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $109.00 million for the quarter, compared to the consensus estimate of $91.89 million. Taseko Mines had a net margin of 17.37% and a return on equity of 11.44%. As a group, sell-side analysts anticipate that Taseko Mines Limited will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TGB. Aigen Investment Management LP acquired a new stake in shares of Taseko Mines in the third quarter valued at about $28,000. Private Wealth Management Group LLC acquired a new stake in Taseko Mines in the fourth quarter valued at approximately $38,000. Cahaba Wealth Management Inc. grew its position in Taseko Mines by 38.2% in the fourth quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock valued at $51,000 after acquiring an additional 9,980 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Taseko Mines during the fourth quarter valued at approximately $102,000. Finally, Quantbot Technologies LP acquired a new position in shares of Taseko Mines during the first quarter worth $307,000. Institutional investors and hedge funds 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.