Taseko Mines (NYSE:TGB) Shares Down 7.4% – What’s Next?

Taseko Mines Limited (NYSE:TGB) shares traded down 7.4% during mid-day trading on Friday . The company traded as low as $2.36 and last traded at $2.37. 535,652 shares changed hands during trading, a decline of 81% from the average session volume of 2,808,192 shares. The stock had previously closed at $2.56.

Taseko Mines Stock Performance

The firm’s 50-day moving average price is $2.32 and its 200-day moving average price is $2.39. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.09 and a quick ratio of 1.34. The stock has a market cap of $717.48 million, a P/E ratio of 12.58 and a beta of 1.77.

Institutional Trading of Taseko Mines

A number of institutional investors and hedge funds have recently bought and sold shares of TGB. Tidal Investments LLC bought a new stake in shares of Taseko Mines in the first quarter worth about $3,508,000. Renaissance Technologies LLC grew its holdings in Taseko Mines by 14.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock valued at $14,465,000 after buying an additional 755,192 shares in the last quarter. American Century Companies Inc. increased its stake in Taseko Mines by 752.2% in the 2nd quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock worth $1,734,000 after acquiring an additional 621,352 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Taseko Mines during the 2nd quarter worth approximately $1,192,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Taseko Mines by 87.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 491,388 shares of the company’s stock valued at $1,204,000 after acquiring an additional 229,849 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors.

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.