Taseko Mines (NYSE:TGB) Sets New 12-Month High – Here’s What Happened

by · The Cerbat Gem

Shares of Taseko Mines Limited (NYSE:TGB – Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $9.25 and last traded at $8.6780, with a volume of 1316577 shares. The stock had previously closed at $8.83.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Taseko Mines in a report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Read Our Latest Analysis on Taseko Mines

Taseko Mines Price Performance

The company’s 50 day simple moving average is $6.17 and its two-hundred day simple moving average is $4.63. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The stock has a market capitalization of $2.95 billion, a P/E ratio of -271.83 and a beta of 1.27.

Hedge Funds Weigh In On Taseko Mines

Several hedge funds have recently added to or reduced their stakes in TGB. L1 Capital Pty Ltd lifted its position in Taseko Mines by 18.4% during the 3rd quarter. L1 Capital Pty Ltd now owns 24,479,399 shares of the company’s stock valued at $107,709,000 after purchasing an additional 3,797,792 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Taseko Mines by 11.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,126,773 shares of the company’s stock valued at $34,376,000 after buying an additional 854,016 shares during the period. JPMorgan Chase & Co. lifted its holdings in Taseko Mines by 261.5% in the second quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company’s stock valued at $12,661,000 after buying an additional 2,907,611 shares during the period. Mackenzie Financial Corp boosted its stake in Taseko Mines by 121.7% in the third quarter. Mackenzie Financial Corp now owns 3,556,688 shares of the company’s stock valued at $15,075,000 after acquiring an additional 1,952,116 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. acquired a new stake in Taseko Mines during the 3rd quarter worth $12,260,000. Institutional investors own 17.94% of the company’s stock.

About Taseko Mines

(Get Free Report)

Taseko Mines Ltd. is a Vancouver‐based mining company primarily engaged in the exploration, development and production of copper‐based projects. Its flagship operation is the Gibraltar copper mine in central British Columbia, which ranks among Canada’s largest open pit copper producers. In addition to copper, Gibraltar yields byproducts such as molybdenum and silver, reflecting Taseko’s focus on base and precious metals.

Beyond Gibraltar, Taseko holds two advanced development assets. The Florence Copper project in Arizona employs an in‐situ recovery process to extract copper, positioning it as one of North America’s first large‐scale applications of this technology.

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