Taseko Mines (NYSE:TGB) Sets New 52-Week Low - Here's Why

Shares of Taseko Mines Limited (NYSE:TGB - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $1.74 and last traded at $1.81, with a volume of 5776342 shares changing hands. The stock had previously closed at $2.06.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. National Bank Financial upgraded shares of Taseko Mines from a "sector perform" rating to an "outperform" rating in a research note 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 Stock Performance

The firm has a market cap of $608.82 million, a PE ratio of -65.33 and a beta of 1.48. 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 $2.14 and a 200 day moving average price of $2.16.

Institutional Investors Weigh In On Taseko Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Abacus Wealth Partners LLC acquired a new stake in shares of Taseko Mines during the fourth quarter worth about $29,000. BIP Wealth LLC acquired a new stake in Taseko Mines during the 4th quarter worth $30,000. Cadence Bank acquired a new position in shares of Taseko Mines in the fourth quarter valued at approximately $32,000. Lido Advisors LLC purchased a new position in Taseko Mines during the fourth quarter worth about $37,000. Finally, Quantinno Capital Management LP acquired a new stake in Taseko Mines in the third quarter valued at $38,000. Hedge funds and other institutional investors 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.