Taseko Mines (NYSE:TGB) Shares Gap Up – Still a Buy?

Shares of Taseko Mines Limited (NYSE:TGB) gapped up prior to trading on Thursday . The stock had previously closed at $1.97, but opened at $2.03. Taseko Mines shares last traded at $1.98, with a volume of 113,387 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on TGB. StockNews.com raised shares of Taseko Mines from a “sell” rating to a “hold” rating in a research report on Wednesday, December 11th. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Taseko Mines presently has a consensus rating of “Buy” and an average target price of $3.50.

Taseko Mines Price Performance

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The firm has a market cap of $606.00 million, a PE ratio of 10.47 and a beta of 1.72. The business’s fifty day moving average is $2.12 and its 200-day moving average is $2.24.

Taseko Mines (NYSE:TGB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Taseko Mines had a return on equity of 15.25% and a net margin of 12.69%. The company had revenue of $114.08 million for the quarter, compared to analysts’ expectations of $112.48 million. On average, research analysts predict that Taseko Mines Limited will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TGB. ClariVest Asset Management LLC purchased a new stake in Taseko Mines in the 2nd quarter worth about $1,192,000. American Century Companies Inc. increased its stake in shares of Taseko Mines by 752.2% in the second quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock worth $1,734,000 after purchasing an additional 621,352 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Taseko Mines by 87.9% in the second quarter. Dimensional Fund Advisors LP now owns 491,388 shares of the company’s stock valued at $1,204,000 after purchasing an additional 229,849 shares during the period. Renaissance Technologies LLC lifted its stake in shares of 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. Finally, XTX Topco Ltd boosted its holdings in Taseko Mines by 990.3% in the 2nd quarter. XTX Topco Ltd now owns 164,510 shares of the company’s stock worth $403,000 after buying an additional 149,421 shares during the period. 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.