Taseko Mines (NYSE:TGB) Stock Price Down 7.9% - Time to Sell?

Taseko Mines Limited (NYSE:TGB - Get Free Report)'s share price was down 7.9% during mid-day trading on Friday . The stock traded as low as $2.02 and last traded at $2.04. Approximately 2,985,574 shares traded hands during trading, a decline of 48% from the average daily volume of 5,761,843 shares. The stock had previously closed at $2.21.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Taseko Mines from a "sell" rating to a "hold" rating in a research report on Monday.

Taseko Mines Trading Up 0.5 %

The firm's 50-day simple moving average is $2.15 and its 200 day simple moving average is $2.11. 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 firm has a market cap of $612.80 million, a P/E ratio of -64.67 and a beta of 1.41.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Barclays PLC grew its stake in Taseko Mines by 353.3% during the third quarter. Barclays PLC now owns 79,323 shares of the company's stock valued at $200,000 after acquiring an additional 61,823 shares in the last quarter. Prairiewood Capital LLC bought a new stake in Taseko Mines in the fourth quarter valued at $76,000. Abacus Wealth Partners LLC purchased a new position in shares of Taseko Mines during the fourth quarter valued at about $29,000. Dakota Wealth Management raised its position in shares of Taseko Mines by 5.0% in the 4th quarter. Dakota Wealth Management now owns 480,777 shares of the company's stock worth $933,000 after acquiring an additional 22,838 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in Taseko Mines during the fourth quarter valued at $195,000. 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.