Taseko Mines (NYSE:TGB) Sees Strong Trading Volume - Here's Why

Taseko Mines Limited (NYSE:TGB - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 8,196,559 shares changed hands during mid-day trading, an increase of 28% from the previous session's volume of 6,403,661 shares.The stock last traded at $2.17 and had previously closed at $2.06.

Wall Street Analyst Weigh In

TGB has been the topic of a number of research reports. National Bank Financial upgraded Taseko Mines from a "sector perform" rating to an "outperform" rating in a report on Tuesday, December 10th. StockNews.com lowered Taseko Mines from a "hold" rating to a "sell" rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $3.50.

Taseko Mines Stock Performance

The firm has a market cap of $723.49 million, a PE ratio of -77.67 and a beta of 1.61. 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 firm has a fifty day moving average price of $2.06 and a 200 day moving average price of $2.15.

Hedge Funds Weigh In On Taseko Mines

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC grew its position in shares of Taseko Mines by 82.3% during the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company's stock worth $34,507,000 after buying an additional 6,182,981 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Taseko Mines by 2.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,725,601 shares of the company's stock worth $20,880,000 after purchasing an additional 297,403 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Taseko Mines by 52.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,301,466 shares of the company's stock worth $18,095,000 after purchasing an additional 3,217,385 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Taseko Mines by 15.6% during the fourth quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company's stock worth $12,952,000 after purchasing an additional 900,400 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Taseko Mines by 296.8% during the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company's stock worth $8,225,000 after purchasing an additional 2,364,116 shares during the last quarter. 17.94% of the stock is owned by institutional investors and hedge funds.

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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.