Taseko Mines (NYSE:TGB) Sees Large Volume Increase

Shares of Taseko Mines Limited (NYSE:TGB - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 510,415 shares changed hands during trading, a decline of 70% from the previous session's volume of 1,705,438 shares.The stock last traded at $2.37 and had previously closed at $2.33.

Analyst Upgrades and Downgrades

TGB has been the subject of a number of analyst reports. TD Securities raised their price objective on shares of Taseko Mines from $3.25 to $3.50 and gave the company a "buy" rating in a research note on Tuesday, March 26th. Stifel Nicolaus assumed coverage on shares of Taseko Mines in a research note on Tuesday, March 26th. They issued a "buy" rating for the company. Finally, TheStreet upgraded shares of Taseko Mines from a "d" rating to a "c" rating in a research note on Thursday, March 14th.

Taseko Mines Price Performance

The business's 50 day moving average price is $1.69 and its 200 day moving average price is $1.42. The stock has a market capitalization of $708.77 million, a P/E ratio of 12.20 and a beta of 1.99. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.77 and a quick ratio of 0.90.

Taseko Mines (NYSE:TGB - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Taseko Mines had a return on equity of 11.54% and a net margin of 15.66%. The company had revenue of $112.90 million during the quarter. Sell-side analysts forecast that Taseko Mines Limited will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Taseko Mines

A number of institutional investors and hedge funds have recently made changes to their positions in TGB. BlackRock Inc. boosted its holdings in shares of Taseko Mines by 38.8% in the third quarter. BlackRock Inc. now owns 9,769,733 shares of the company's stock worth $11,137,000 after buying an additional 2,730,110 shares during the last quarter. Anthracite Investment Company Inc. purchased a new position in shares of Taseko Mines in the fourth quarter worth approximately $2,077,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Taseko Mines by 22.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,620,259 shares of the company's stock worth $10,668,000 after buying an additional 1,394,848 shares during the last quarter. Credit Suisse AG boosted its holdings in shares of Taseko Mines by 570.8% in the second quarter. Credit Suisse AG now owns 1,604,635 shares of the company's stock worth $3,049,000 after buying an additional 1,365,423 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Taseko Mines by 18.6% in the first quarter. Renaissance Technologies LLC now owns 7,913,714 shares of the company's stock worth $18,139,000 after buying an additional 1,240,532 shares during the last quarter. Hedge funds and other 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 87.5% 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.