Taseko Mines (NYSE:TGB) Sets New 52-Week High - What's Next?

Taseko Mines Limited (NYSE:TGB - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $3.56 and last traded at $3.55, with a volume of 9811612 shares changing hands. The stock had previously closed at $3.29.

Analyst Upgrades and Downgrades

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 Down 1.6%

The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -120.00 and a beta of 1.42. The business has a 50-day moving average price of $2.62 and a 200-day moving average price of $2.28. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

Institutional Trading of Taseko Mines

Several institutional investors have recently modified their holdings of TGB. Raymond James Financial Inc. acquired a new stake in shares of Taseko Mines in the fourth quarter valued at approximately $1,070,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Taseko Mines by 52.9% in the 4th 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 period. Virtu Financial LLC acquired a new position in shares of Taseko Mines during the fourth quarter worth about $96,000. American Century Companies Inc. grew its position in Taseko Mines by 16.8% in the fourth quarter. American Century Companies Inc. now owns 822,551 shares of the company's stock valued at $1,602,000 after purchasing an additional 118,597 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in shares of Taseko Mines during the 4th quarter worth approximately $70,000. Institutional investors and hedge funds 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.