Taseko Mines (NYSE:TGB) Shares Gap Up – What’s Next?

Taseko Mines Limited (NYSE:TGB)’s stock price 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 traded.

Analyst Upgrades and Downgrades

TGB has been the subject of several research analyst reports. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $3.50.

Taseko Mines Stock Down 0.3 %

The stock has a market cap of $598.39 million, a price-to-earnings ratio of 10.34 and a beta of 1.72. 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 is $2.14 and its 200 day moving average is $2.25.

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

Institutional Investors Weigh In On Taseko Mines

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in Taseko Mines by 752.2% in the second 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 last quarter. Bank of Montreal Can lifted its position in shares of Taseko Mines by 296.8% during the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after acquiring an additional 2,364,116 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Taseko Mines by 87.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 491,388 shares of the company’s stock valued at $1,204,000 after purchasing an additional 229,849 shares during the period. Renaissance Technologies LLC increased its position in shares of Taseko Mines by 14.7% in the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock worth $14,465,000 after acquiring an additional 755,192 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in Taseko Mines during the 2nd quarter valued at $1,192,000. Institutional investors and hedge funds 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.