Taseko Mines (NYSE:TGB) Shares Down 3.2% - Time to Sell?

Taseko Mines Limited (NYSE:TGB - Get Free Report)'s share price fell 3.2% during mid-day trading on Wednesday . The stock traded as low as $2.86 and last traded at $2.89. 1,472,780 shares were traded during trading, a decline of 78% from the average session volume of 6,640,838 shares. The stock had previously closed at $2.98.

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.

Taseko Mines Price Performance

The company's 50-day moving average is $2.23 and its 200-day moving average is $2.13. 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 firm has a market capitalization of $957.10 million, a price-to-earnings ratio of -101.00 and a beta of 1.34.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BIP Wealth LLC purchased a new position in Taseko Mines in the fourth quarter valued at approximately $30,000. Cadence Bank purchased a new stake in shares of Taseko Mines during the fourth quarter valued at approximately $32,000. Lido Advisors LLC purchased a new stake in shares of Taseko Mines during the fourth quarter valued at approximately $37,000. Deutsche Bank AG raised its stake in shares of Taseko Mines by 88.2% during the fourth quarter. Deutsche Bank AG now owns 19,857 shares of the company's stock valued at $39,000 after purchasing an additional 9,308 shares during the period. Finally, Oxford Asset Management LLP purchased a new stake in shares of Taseko Mines during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors 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.