Taseko Mines (NYSE:TGB) Sets New 12-Month High - What's Next?

Taseko Mines Limited (NYSE:TGB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $3.09 and last traded at $3.06, with a volume of 47320185 shares trading hands. The stock had previously closed at $2.60.

Wall Street Analyst Weigh In

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

Taseko Mines Stock Performance

The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The company has a market cap of $941.31 million, a PE ratio of -99.33 and a beta of 1.34. The firm's 50-day simple moving average is $2.16 and its two-hundred day simple moving average is $2.11.

Institutional Trading of Taseko Mines

Several large investors have recently made changes to their positions in the business. Two Sigma Investments LP lifted its position in Taseko Mines by 6.3% during the fourth quarter. Two Sigma Investments LP now owns 998,760 shares of the company's stock valued at $1,938,000 after purchasing an additional 59,537 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Taseko Mines by 57.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,468,029 shares of the company's stock valued at $2,848,000 after buying an additional 534,272 shares during the last quarter. Millennium Management LLC raised its stake in shares of Taseko Mines by 105.0% during the 4th quarter. Millennium Management LLC now owns 1,174,453 shares of the company's stock valued at $2,279,000 after buying an additional 601,684 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Taseko Mines in the 4th quarter valued at about $1,070,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Taseko Mines in the fourth quarter worth about $80,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

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.