Taseko Mines (NYSE:TGB) Shares Down 7.4% – Here’s Why

Taseko Mines Limited (NYSE:TGB)’s share price traded down 7.4% during trading on Friday . The company traded as low as $2.36 and last traded at $2.37. 535,652 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 2,808,192 shares. The stock had previously closed at $2.56.

Taseko Mines Trading Down 6.6 %

The company has a 50-day moving average price of $2.32 and a two-hundred day moving average price of $2.39. The stock has a market cap of $717.48 million, a P/E ratio of 12.58 and a beta of 1.77. The company has a current ratio of 2.09, a quick ratio of 1.34 and a debt-to-equity ratio of 1.57.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TGB. Keystone Wealth Services LLC purchased a new position in shares of Taseko Mines during the 2nd quarter worth about $37,000. SG Americas Securities LLC purchased a new position in shares of Taseko Mines during the third quarter valued at approximately $38,000. Ballentine Partners LLC bought a new position in shares of Taseko Mines during the third quarter valued at approximately $42,000. Signaturefd LLC grew its stake in shares of Taseko Mines by 21.9% during the third quarter. Signaturefd LLC now owns 46,808 shares of the company’s stock valued at $118,000 after buying an additional 8,397 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Taseko Mines during the 2nd quarter worth approximately $157,000. 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.