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

Taseko Mines Limited (NYSE:TGB - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.39, but opened at $2.47. Taseko Mines shares last traded at $2.42, with a volume of 384,922 shares.

Taseko Mines Stock Performance

The stock has a 50 day simple moving average of $2.29 and a 200 day simple moving average of $2.40. The stock has a market cap of $718.98 million, a P/E ratio of 12.61 and a beta of 1.74. The company has a current ratio of 2.09, a quick ratio of 1.34 and a debt-to-equity ratio of 1.57.

Taseko Mines (NYSE:TGB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.10. The business had revenue of $100.66 million during the quarter, compared to the consensus estimate of $88.01 million. Taseko Mines had a return on equity of 18.82% and a net margin of 13.07%. On average, equities analysts expect that Taseko Mines Limited will post 0.15 earnings per share for the current year.

Institutional Trading of Taseko Mines

Large investors have recently made changes to their positions in the company. Dynamic Advisor Solutions LLC lifted its stake in Taseko Mines by 7.3% during the third quarter. Dynamic Advisor Solutions LLC now owns 103,682 shares of the company's stock worth $261,000 after purchasing an additional 7,070 shares during the last quarter. Keystone Wealth Services LLC acquired a new position in shares of Taseko Mines during the 2nd quarter worth $37,000. SG Americas Securities LLC bought a new stake in shares of Taseko Mines during the 3rd quarter worth $38,000. Cubist Systematic Strategies LLC lifted its position in shares of Taseko Mines by 58.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 97,497 shares of the company's stock worth $239,000 after buying an additional 36,010 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Taseko Mines by 5.3% in the second quarter. Bank of Montreal Can now owns 796,458 shares of the company's stock valued at $2,131,000 after buying an additional 40,053 shares in the last quarter. Institutional investors and hedge funds 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.