Taseko Mines (NYSE:TGB) Sets New 1-Year High – Here’s Why
by Kim Johansen · The Markets DailyTaseko Mines Limited (NYSE:TGB – Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $7.49 and last traded at $7.4150, with a volume of 5904076 shares traded. The stock had previously closed at $7.06.
Analyst Ratings Changes
Separately, BMO Capital Markets restated an “outperform” rating on shares of Taseko Mines in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.00.
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Taseko Mines Stock Up 6.0%
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 stock has a market cap of $2.76 billion, a P/E ratio of -254.33 and a beta of 1.27. The firm’s 50-day moving average is $5.64 and its two-hundred day moving average is $4.38.
Institutional Investors Weigh In On Taseko Mines
Large investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Taseko Mines in the 1st quarter valued at about $65,000. Goldman Sachs Group Inc. boosted its stake in shares of Taseko Mines by 198.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,072 shares of the company’s stock worth $2,213,000 after acquiring an additional 657,477 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Taseko Mines by 10.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,541,741 shares of the company’s stock valued at $3,454,000 after acquiring an additional 146,154 shares during the period. Focus Partners Wealth boosted its position in Taseko Mines by 19.9% during the first quarter. Focus Partners Wealth now owns 60,200 shares of the company’s stock worth $135,000 after purchasing an additional 10,000 shares during the period. Finally, Sowell Financial Services LLC boosted its position in Taseko Mines by 8.7% during the second quarter. Sowell Financial Services LLC now owns 62,331 shares of the company’s stock worth $196,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 17.94% of the company’s stock.
Taseko Mines Company Profile
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.