Stock Traders Purchase Large Volume of Call Options on Taseko Mines (NYSE:TGB)

Taseko Mines Limited (NYSE:TGB) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 8,595 call options on the stock. This is an increase of approximately 219% compared to the average volume of 2,694 call options.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Taseko Mines in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Taseko Mines currently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Taseko Mines Price Performance

Taseko Mines stock traded down $0.10 during mid-day trading on Friday, reaching $7.05. 7,373,062 shares of the company’s stock traded hands, compared to its average volume of 8,334,341. Taseko Mines has a 12-month low of $1.67 and a 12-month high of $7.43. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The stock has a 50 day moving average of $5.32 and a two-hundred day moving average of $4.22. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -235.00 and a beta of 1.27.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its position in Taseko Mines by 973.6% in the second quarter. Mackenzie Financial Corp now owns 1,604,572 shares of the company’s stock worth $5,070,000 after buying an additional 1,455,117 shares during the last quarter. L1 Capital Pty Ltd increased its position in Taseko Mines by 64.0% during the second quarter. L1 Capital Pty Ltd now owns 20,681,607 shares of the company’s stock valued at $65,148,000 after acquiring an additional 8,072,986 shares during the last quarter. Persistent Asset Partners Ltd raised its stake in shares of Taseko Mines by 59.7% in the second quarter. Persistent Asset Partners Ltd now owns 168,901 shares of the company’s stock valued at $532,000 after acquiring an additional 63,132 shares during the period. SG Americas Securities LLC bought a new stake in shares of Taseko Mines in the 2nd quarter worth about $308,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Taseko Mines by 261.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company’s stock worth $12,661,000 after acquiring an additional 2,907,611 shares during the last quarter. Institutional investors own 17.94% of the company’s stock.

Taseko Mines Company Profile

Taseko Mines Ltd. is a Vancouver‐based mining company primarily engaged in the exploration, development and production of copper‐based projects. Its flagship operation is the Gibraltar copper mine in central British Columbia, which ranks among Canada’s largest open pit copper producers. In addition to copper, Gibraltar yields byproducts such as molybdenum and silver, reflecting Taseko’s focus on base and precious metals.

Beyond Gibraltar, Taseko holds two advanced development assets. The Florence Copper project in Arizona employs an in‐situ recovery process to extract copper, positioning it as one of North America’s first large‐scale applications of this technology.