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

Taseko Mines Limited (NYSE:TGB) gapped up prior to trading on Thursday . The stock had previously closed at $1.97, but opened at $2.03. Taseko Mines shares last traded at $1.98, with a volume of 113,387 shares.

Analyst Ratings Changes

TGB has been the subject of a number of recent analyst reports. National Bank Financial upgraded shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. StockNews.com upgraded Taseko Mines from a “sell” rating to a “hold” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $3.50.

Taseko Mines Trading Up 0.5 %

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 firm has a market capitalization of $606.00 million, a P/E ratio of 10.47 and a beta of 1.72. The firm’s 50-day simple moving average is $2.12 and its 200-day simple moving average is $2.24.

Taseko Mines (NYSE:TGB) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Taseko Mines had a return on equity of 15.25% and a net margin of 12.69%. The company had revenue of $114.08 million during the quarter, compared to analysts’ expectations of $112.48 million. Analysts anticipate that Taseko Mines Limited will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Taseko Mines

Several institutional investors have recently modified their holdings of TGB. Tidal Investments LLC boosted its stake in Taseko Mines by 82.3% in the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock worth $34,507,000 after buying an additional 6,182,981 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Taseko Mines by 296.8% in the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after acquiring an additional 2,364,116 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Taseko Mines by 14.7% in the 2nd quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock valued at $14,465,000 after purchasing an additional 755,192 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Taseko Mines by 752.2% during the 2nd quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock valued at $1,734,000 after purchasing an additional 621,352 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of Taseko Mines during the second quarter valued at about $1,192,000. 17.94% of the stock is currently 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.