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

Taseko Mines Limited (NYSE:TGB - Get Free Report) saw unusually-high trading volume on Monday . Approximately 7,632,506 shares traded hands during trading, an increase of 74% from the previous session's volume of 4,396,446 shares.The stock last traded at $2.42 and had previously closed at $2.38.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TGB shares. National Bank Financial upgraded shares of Taseko Mines from a "sector perform" rating to an "outperform" rating in a report on Tuesday, December 10th. StockNews.com downgraded Taseko Mines from a "hold" rating to a "sell" rating in a research note on Friday, February 21st.

Taseko Mines Trading Down 6.8 %

The stock has a 50 day simple moving average of $2.13 and a 200-day simple moving average of $2.17. 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 market capitalization of $703.31 million, a P/E ratio of -75.50 and a beta of 1.61.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TGB. Geode Capital Management LLC increased its stake in shares of Taseko Mines by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 145,023 shares of the company's stock worth $282,000 after purchasing an additional 5,928 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Taseko Mines by 8.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 94,776 shares of the company's stock worth $185,000 after acquiring an additional 6,987 shares during the period. Barclays PLC grew its position in shares of Taseko Mines by 10.8% during the fourth quarter. Barclays PLC now owns 87,899 shares of the company's stock worth $171,000 after purchasing an additional 8,576 shares in the last quarter. Mariner LLC raised its stake in Taseko Mines by 31.0% during the 4th quarter. Mariner LLC now owns 36,736 shares of the company's stock valued at $71,000 after purchasing an additional 8,693 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Taseko Mines by 88.2% in the 4th quarter. Deutsche Bank AG now owns 19,857 shares of the company's stock worth $39,000 after purchasing an additional 9,308 shares in the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

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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.