Taseko Mines (NYSE:TGB) Sees Large Volume Increase - Still a Buy?

Taseko Mines Limited (NYSE:TGB - Get Free Report) saw strong trading volume on Tuesday . 4,227,937 shares were traded during mid-day trading, an increase of 1% from the previous session's volume of 4,165,849 shares.The stock last traded at $2.44 and had previously closed at $2.40.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com lowered Taseko Mines from a "hold" rating to a "sell" rating in a research report on Friday, February 21st. National Bank Financial raised Taseko Mines from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $3.50.

Taseko Mines Trading Down 4.0 %

The stock has a 50 day simple moving average of $2.10 and a 200-day simple moving average of $2.15. The firm has a market capitalization of $739.02 million, a P/E ratio of -79.33 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.

Institutional Investors Weigh In On Taseko Mines

Large investors have recently made changes to their positions in the company. Bank of Montreal Can grew its stake in shares of Taseko Mines by 296.8% during the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company's stock valued at $8,225,000 after purchasing an additional 2,364,116 shares during the period. Barclays PLC grew its stake in shares of Taseko Mines by 353.3% during the 3rd quarter. Barclays PLC now owns 79,323 shares of the company's stock valued at $200,000 after acquiring an additional 61,823 shares during the period. Centiva Capital LP grew its stake in shares of Taseko Mines by 125.9% during the 3rd quarter. Centiva Capital LP now owns 196,072 shares of the company's stock valued at $494,000 after acquiring an additional 109,284 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Taseko Mines by 272.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 53,142 shares of the company's stock valued at $134,000 after acquiring an additional 38,876 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Taseko Mines by 52.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,301,466 shares of the company's stock valued at $18,095,000 after acquiring an additional 3,217,385 shares during the period. 17.94% of the stock is currently owned by institutional investors.

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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.