Taseko Mines (NYSE:TGB) Shares Gap Up - Time to Buy?

Shares of Taseko Mines Limited (NYSE:TGB - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $1.97, but opened at $2.03. Taseko Mines shares last traded at $1.98, with a volume of 113,387 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. National Bank Financial upgraded Taseko Mines from a "sector perform" rating to an "outperform" rating in a report on Tuesday, December 10th. StockNews.com upgraded Taseko Mines from a "sell" rating to a "hold" rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $3.50.

Taseko Mines Stock Up 0.5 %

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The firm's 50-day moving average price is $2.13 and its 200 day moving average price is $2.25. The firm has a market capitalization of $602.96 million, a price-to-earnings ratio of 10.42 and a beta of 1.72.

Taseko Mines (NYSE:TGB - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. The company had revenue of $114.08 million for the quarter, compared to analyst estimates of $112.48 million. Sell-side analysts expect that Taseko Mines Limited will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Taseko Mines

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. grew its holdings in Taseko Mines by 752.2% in the 2nd quarter. American Century Companies Inc. now owns 703,954 shares of the company's stock valued at $1,734,000 after buying an additional 621,352 shares during the period. Bank of Montreal Can grew its holdings in Taseko Mines by 296.8% in the third 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. Dimensional Fund Advisors LP increased its position in Taseko Mines by 87.9% during the second quarter. Dimensional Fund Advisors LP now owns 491,388 shares of the company's stock worth $1,204,000 after purchasing an additional 229,849 shares during the last quarter. Renaissance Technologies LLC increased its position in Taseko Mines by 14.7% during the second 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 during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in Taseko Mines during the second quarter worth approximately $1,192,000. 17.94% of the stock is owned by institutional investors and hedge funds.

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.