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

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

Wall Street Analysts Forecast Growth

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

Taseko Mines Trading Up 3.6 %

The business's 50 day moving average price is $2.16 and its two-hundred day moving average price is $2.11. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The company has a market capitalization of $638.07 million, a price-to-earnings ratio of -67.33 and a beta of 1.41.

Hedge Funds Weigh In On Taseko Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC bought a new stake in shares of Taseko Mines in the 4th quarter worth $29,000. BIP Wealth LLC bought a new stake in Taseko Mines in the fourth quarter worth about $30,000. Cadence Bank bought a new stake in Taseko Mines in the fourth quarter worth about $32,000. Lido Advisors LLC acquired a new stake in Taseko Mines in the 4th quarter valued at about $37,000. Finally, Deutsche Bank AG boosted its position in shares of Taseko Mines by 88.2% during the 4th 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 in the last quarter. 17.94% of the stock is owned by institutional investors.

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.