Taseko Mines Target of Unusually Large Options Trading (NYSE:TGB)

Taseko Mines Limited (NYSE:TGB - Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors purchased 6,651 call options on the stock. This represents an increase of 522% compared to the average daily volume of 1,069 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TGB. Barclays PLC lifted its stake in shares of Taseko Mines by 353.3% in the third quarter. Barclays PLC now owns 79,323 shares of the company's stock valued at $200,000 after buying an additional 61,823 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of Taseko Mines in the fourth quarter valued at about $195,000. Raymond James Financial Inc. purchased a new stake in shares of Taseko Mines in the fourth quarter valued at about $1,070,000. Callan Family Office LLC purchased a new stake in shares of Taseko Mines in the fourth quarter valued at about $106,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Taseko Mines by 52.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,301,466 shares of the company's stock valued at $18,095,000 after purchasing an additional 3,217,385 shares during the last quarter. 17.94% of the stock is owned by institutional investors.

Taseko Mines Trading Up 17.7%

Shares of TGB traded up $0.46 during trading hours on Friday, hitting $3.06. 47,320,185 shares of the stock were exchanged, compared to its average volume of 6,508,925. Taseko Mines has a fifty-two week low of $1.67 and a fifty-two week high of $3.09. 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 business has a 50-day moving average of $2.12 and a 200-day moving average of $2.10. The firm has a market capitalization of $966.58 million, a P/E ratio of -102.00 and a beta of 1.34.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Taseko Mines from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th.

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.