Taseko Mines (NYSE:TGB) Trading Up 7% - Should You Buy?

Taseko Mines Limited (NYSE:TGB - Get Free Report)'s share price was up 7% during mid-day trading on Monday . The stock traded as high as $2.38 and last traded at $2.39. Approximately 2,364,790 shares changed hands during trading, a decline of 62% from the average daily volume of 6,182,779 shares. The stock had previously closed at $2.23.

Analyst Upgrades and Downgrades

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

Taseko Mines Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $780.21 million, a price-to-earnings ratio of -82.33 and a beta of 1.41. The stock's 50-day simple moving average is $2.10 and its 200 day simple moving average is $2.09.

Institutional Investors Weigh In On Taseko Mines

Several hedge funds and other institutional investors have recently made changes to their positions in TGB. Signaturefd LLC boosted its holdings in Taseko Mines by 12.0% in the first quarter. Signaturefd LLC now owns 47,992 shares of the company's stock valued at $108,000 after acquiring an additional 5,154 shares during the last quarter. Geode Capital Management LLC lifted its position in Taseko Mines by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 145,023 shares of the company's stock valued at $282,000 after purchasing an additional 5,928 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Taseko Mines by 8.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 94,776 shares of the company's stock valued at $185,000 after purchasing an additional 6,987 shares during the last quarter. Barclays PLC grew its position in shares of Taseko Mines by 10.8% during the 4th quarter. Barclays PLC now owns 87,899 shares of the company's stock worth $171,000 after buying an additional 8,576 shares during the period. Finally, Mariner LLC raised its stake in shares of Taseko Mines by 31.0% during the fourth quarter. Mariner LLC now owns 36,736 shares of the company's stock worth $71,000 after buying an additional 8,693 shares during the last quarter. 17.94% of the stock is owned by institutional investors and hedge funds.

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.