Taseko Mines (NYSE:TGB) Sets New 52-Week High - Here's Why

Shares of Taseko Mines Limited (NYSE:TGB - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $3.16 and last traded at $3.14, with a volume of 11236572 shares trading hands. The stock had previously closed at $2.92.

Wall Street Analysts Forecast Growth

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.

Taseko Mines Stock Down 3.2%

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 stock has a market capitalization of $963.51 million, a P/E ratio of -101.67 and a beta of 1.34. The stock's fifty day moving average is $2.42 and its two-hundred day moving average is $2.20.

Institutional Investors Weigh In On Taseko Mines

Several large investors have recently modified their holdings of TGB. L1 Capital Pty Ltd acquired a new position in shares of Taseko Mines in the 1st quarter valued at $28,243,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Taseko Mines by 52.9% during 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 buying an additional 3,217,385 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Taseko Mines by 15.6% in the fourth quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company's stock worth $12,952,000 after buying an additional 900,400 shares during the period. TD Asset Management Inc increased its position in shares of Taseko Mines by 22.2% in the first quarter. TD Asset Management Inc now owns 4,003,547 shares of the company's stock worth $8,957,000 after acquiring an additional 728,241 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Taseko Mines by 198.9% in the first quarter. Goldman Sachs Group Inc. now owns 988,072 shares of the company's stock worth $2,213,000 after acquiring an additional 657,477 shares in the last quarter. 17.94% of the stock is 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.