Taseko Mines (NYSE:TGB) Reaches New 12-Month High – Still a Buy?

Taseko Mines Limited (NYSE:TGB)’s stock price reached a new 52-week high on Monday . The company traded as high as $4.21 and last traded at $4.21, with a volume of 946587 shares trading hands. The stock had previously closed at $4.05.

Wall Street Analyst Weigh In

TGB has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research report on Friday, August 8th. TD Securities lowered Taseko Mines from a “strong-buy” rating to a “hold” rating and increased their price target for the company from $3.50 to $5.00 in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Taseko Mines Trading Up 3.8%

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -140.17 and a beta of 1.18. 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 company has a fifty day moving average price of $3.37 and a 200-day moving average price of $2.80.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG increased its position 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 buying an additional 9,308 shares during the period. Millennium Management LLC boosted its stake in Taseko Mines by 105.0% in the 4th quarter. Millennium Management LLC now owns 1,174,453 shares of the company’s stock valued at $2,279,000 after buying an additional 601,684 shares in the last quarter. Two Sigma Investments LP boosted its stake in Taseko Mines by 6.3% in the 4th quarter. Two Sigma Investments LP now owns 998,760 shares of the company’s stock valued at $1,938,000 after buying an additional 59,537 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Taseko Mines by 14.4% in the 4th quarter. Two Sigma Advisers LP now owns 442,900 shares of the company’s stock valued at $859,000 after buying an additional 55,600 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Taseko Mines by 8.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 94,776 shares of the company’s stock valued at $185,000 after buying an additional 6,987 shares in the last quarter. 17.94% of the stock is owned by institutional investors.

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.