Taseko Mines (NYSE:TGB) Shares Gap Down to $2.24

Taseko Mines Limited (NYSE:TGB - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $2.24, but opened at $2.18. Taseko Mines shares last traded at $2.21, with a volume of 593,063 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald upgraded Taseko Mines to a "strong-buy" rating in a research note on Thursday, June 13th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $3.50.

Taseko Mines Stock Up 3.6 %

The business has a fifty day moving average price of $2.31 and a two-hundred day moving average price of $2.20. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.09 and a quick ratio of 1.34. The firm has a market capitalization of $680.57 million, a price-to-earnings ratio of 10.45 and a beta of 1.75.

Institutional Trading of Taseko Mines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acuitas Investments LLC grew its holdings in Taseko Mines by 36.0% during the fourth quarter. Acuitas Investments LLC now owns 2,141,258 shares of the company's stock worth $2,998,000 after acquiring an additional 566,414 shares during the period. Anthracite Investment Company Inc. acquired a new stake in Taseko Mines in the fourth quarter valued at approximately $2,077,000. Mackenzie Financial Corp acquired a new stake in Taseko Mines in the fourth quarter valued at approximately $102,000. Quantbot Technologies LP acquired a new stake in Taseko Mines in the first quarter valued at approximately $307,000. Finally, Private Wealth Management Group LLC acquired a new stake in Taseko Mines in the fourth quarter valued at approximately $38,000. 17.94% of the stock is owned by institutional investors and hedge funds.

About Taseko Mines

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.