Taseko Mines (NYSEAMERICAN:TGB) Shares Up 5.1%

Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO)’s share price shot up 5.1% on Friday . The company traded as high as $0.42 and last traded at $0.41, 782,356 shares were traded during trading. An increase of 104% from the average session volume of 384,085 shares. The stock had previously closed at $0.39.

Several brokerages have weighed in on TGB. Scotiabank downgraded Taseko Mines from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, October 15th. National Bank Financial cut Taseko Mines from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, November 27th. Finally, Zacks Investment Research raised Taseko Mines from a “sell” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Taseko Mines has an average rating of “Hold” and a consensus price target of $0.90.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last posted its quarterly earnings results on Wednesday, November 6th. The mining company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $62.44 million for the quarter.

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in shares of Taseko Mines by 10.3% in the second quarter. Renaissance Technologies LLC now owns 8,082,234 shares of the mining company’s stock valued at $4,284,000 after buying an additional 751,444 shares in the last quarter. PenderFund Capital Management Ltd. increased its stake in shares of Taseko Mines by 1,341.7% during the 3rd quarter. PenderFund Capital Management Ltd. now owns 3,338,319 shares of the mining company’s stock worth $1,903,000 after purchasing an additional 3,106,772 shares in the last quarter. K2 Principal Fund L.P. purchased a new position in shares of Taseko Mines during the 3rd quarter worth approximately $926,000. Morgan Stanley raised its position in shares of Taseko Mines by 95.0% during the 2nd quarter. Morgan Stanley now owns 346,703 shares of the mining company’s stock worth $184,000 after purchasing an additional 168,889 shares during the last quarter. Finally, United Capital Financial Advisers LLC purchased a new stake in Taseko Mines in the 2nd quarter valued at approximately $54,000.

Taseko Mines Company Profile (NYSEAMERICAN:TGB)

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.

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