Taseko Mines (NYSE:TGB) Trading 6.6% Higher

Shares of Taseko Mines Limited (NYSE:TGB - Get Free Report) rose 6.6% during mid-day trading on Tuesday . The stock traded as high as $2.43 and last traded at $2.42. Approximately 354,465 shares were traded during trading, a decline of 87% from the average daily volume of 2,693,944 shares. The stock had previously closed at $2.27.

Analyst Upgrades and Downgrades

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

Taseko Mines Stock Up 8.4 %

The firm's 50 day simple moving average is $2.14 and its 200 day simple moving average is $2.33. The company has a market cap of $719.25 million, a price-to-earnings ratio of 10.25 and a beta of 1.74. The company has a quick ratio of 1.34, a current ratio of 2.09 and a debt-to-equity ratio of 1.57.

Taseko Mines (NYSE:TGB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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 net margin of 13.07% and a return on equity of 18.82%. Sell-side analysts anticipate that Taseko Mines Limited will post 0.18 EPS for the current fiscal year.

Institutional Trading of Taseko Mines

A number of large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in Taseko Mines by 14.7% in the 2nd quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company's stock worth $14,465,000 after purchasing an additional 755,192 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Taseko Mines in the first quarter worth approximately $3,508,000. Millennium Management LLC raised its holdings in shares of Taseko Mines by 11.3% during the second quarter. Millennium Management LLC now owns 1,349,795 shares of the company's stock valued at $3,315,000 after acquiring an additional 136,932 shares during the period. Bank of Montreal Can lifted its position in shares of Taseko Mines by 5.3% in the 2nd quarter. Bank of Montreal Can now owns 796,458 shares of the company's stock valued at $2,131,000 after acquiring an additional 40,053 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Taseko Mines by 752.2% in the 2nd quarter. American Century Companies Inc. now owns 703,954 shares of the company's stock worth $1,734,000 after purchasing an additional 621,352 shares during the period. 17.94% of the stock is currently owned by institutional investors.

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.