Taseko Mines (NYSE:TGB) Stock Price Up 7% – Still a Buy?

Taseko Mines Limited (NYSE:TGB) shot up 7% during trading on Monday . The company traded as high as $2.38 and last traded at $2.39. 2,364,790 shares changed hands during trading, a decline of 62% from the average session volume of 6,182,779 shares. The stock had previously closed at $2.23.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Taseko Mines from a “hold” rating to a “sell” rating in a research report on Tuesday, May 13th.

Taseko Mines Price Performance

The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The stock has a market cap of $754.94 million, a price-to-earnings ratio of -79.67 and a beta of 1.41. The company has a 50 day simple moving average of $2.10 and a 200-day simple moving average of $2.09.

Institutional Investors Weigh In On Taseko Mines

Several institutional investors have recently bought and sold shares of TGB. Barclays PLC raised its holdings in shares of Taseko Mines by 353.3% in the third quarter. Barclays PLC now owns 79,323 shares of the company’s stock valued at $200,000 after purchasing an additional 61,823 shares during the last quarter. Y.D. More Investments Ltd bought a new position in Taseko Mines in the fourth quarter valued at $195,000. Raymond James Financial Inc. acquired a new stake in Taseko Mines in the 4th quarter valued at $1,070,000. Callan Family Office LLC bought a new stake in Taseko Mines during the 4th quarter worth about $106,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Taseko Mines by 52.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,301,466 shares of the company’s stock worth $18,095,000 after buying an additional 3,217,385 shares in the last quarter. 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.