Taseko Mines (NYSE:TGB) Shares Up 3.9% – Still a Buy?

Taseko Mines Limited (NYSE:TGB) shot up 3.9% during trading on Tuesday . The company traded as high as $2.51 and last traded at $2.52. 7,678,329 shares were traded during mid-day trading, an increase of 74% from the average session volume of 4,414,185 shares. The stock had previously closed at $2.42.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TGB. National Bank Financial upgraded shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th. StockNews.com cut Taseko Mines from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.50.

Taseko Mines Stock Up 4.1 %

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 $782.49 million, a PE ratio of -84.00 and a beta of 1.61. The firm’s fifty day moving average is $2.10 and its 200-day moving average is $2.16.

Hedge Funds Weigh In On Taseko Mines

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Abacus Wealth Partners LLC purchased a new stake in Taseko Mines during the fourth quarter worth about $29,000. BIP Wealth LLC acquired a new stake in shares of Taseko Mines in the 4th quarter worth approximately $30,000. Cadence Bank purchased a new position in Taseko Mines in the 4th quarter valued at approximately $32,000. Lido Advisors LLC purchased a new stake in Taseko Mines during the fourth quarter worth $37,000. Finally, Quantinno Capital Management LP acquired a new stake in Taseko Mines in the third quarter valued at $38,000. 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.