Taseko Mines (NYSE:TGB) Shares Gap Up - What's Next?

Key Points

• Taseko Mines Limited shares gapped up from $3.74 to $3.92 before opening at $4.08, reflecting significant investor interest with a trading volume of 2,413,343 shares.
• Analysts have issued mixed ratings, with BMO Capital Markets recommending an "outperform" rating, while TD Securities downgraded the stock to a "hold" but raised the target price to $5.00.
• The company's market capitalization is approximately $1.30 billion, with key financial metrics indicating a P/E ratio of -136.17 and a debt-to-equity ratio of 1.48.

Taseko Mines Limited (NYSE:TGB - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $3.74, but opened at $3.92. Taseko Mines shares last traded at $4.08, with a volume of 2,413,343 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BMO Capital Markets reissued an "outperform" rating on shares of Taseko Mines in a research note on Friday, August 8th. TD Securities cut Taseko Mines from a "strong-buy" rating to a "hold" rating and upped their target price for the company from $3.50 to $5.00 in a report on Wednesday, July 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $5.00.

Taseko Mines Stock Performance

The firm has a market cap of $1.30 billion, a P/E ratio of -136.17 and a beta of 1.18. 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's 50-day moving average is $3.32 and its two-hundred day moving average is $2.76.

Institutional Trading of Taseko Mines

A number of institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP raised its stake in shares of Taseko Mines by 6.3% during the 4th quarter. Two Sigma Investments LP now owns 998,760 shares of the company's stock worth $1,938,000 after purchasing an additional 59,537 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Taseko Mines by 186.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 79,957 shares of the company's stock valued at $179,000 after purchasing an additional 52,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Taseko Mines by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,022,109 shares of the company's stock valued at $24,789,000 after buying an additional 296,508 shares during the period. Dynamic Advisor Solutions LLC purchased a new stake in Taseko Mines in the 1st quarter worth approximately $258,000. Finally, Nuveen LLC bought a new stake in Taseko Mines during the first quarter valued at $659,000. 17.94% of the stock is owned by hedge funds and other 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.

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