Taseko Mines (NYSE:TGB) Shares Up 7.2% – Still a Buy?

Taseko Mines Limited (NYSE:TGB) was up 7.2% during trading on Wednesday . The company traded as high as $7.02 and last traded at $6.9890. Approximately 1,887,760 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 7,021,042 shares. The stock had previously closed at $6.52.

Taseko Mines Stock Up 7.3%

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 capitalization of $2.52 billion, a PE ratio of -233.50 and a beta of 1.27. The stock’s fifty day simple moving average is $5.21 and its 200-day simple moving average is $4.18.

Hedge Funds Weigh In On Taseko Mines

Hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Taseko Mines by 25.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company’s stock valued at $92,000 after acquiring an additional 3,000 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new position in Taseko Mines in the third quarter worth $61,000. Cantor Fitzgerald L. P. purchased a new position in Taseko Mines in the third quarter worth $518,000. CANADA LIFE ASSURANCE Co grew its stake in Taseko Mines by 24.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 819,042 shares of the company’s stock valued at $3,443,000 after purchasing an additional 158,362 shares during the period. Finally, Voleon Capital Management LP purchased a new stake in shares of Taseko Mines during the 3rd quarter valued at $660,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

About Taseko Mines

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.