Taseko Mines (NYSE:TGB) Sees Strong Trading Volume - Time to Buy?

Taseko Mines Limited (NYSE:TGB) recently experienced a significant spike in trading volume, indicating increased investor interest. On Wednesday, the company saw approximately 8,196,559 shares traded, a notable increase of 28% compared to the previous session's volume of 6,403,661 shares. The stock price saw a slight uptick, last trading at $2.17, compared to its prior close at $2.06.

Analysts Set New Price Targets

Various research analysts have recently provided insights regarding Taseko Mines. StockNews.com has downgraded the company's rating from a "hold" to a "sell" as of February 21st. Conversely, National Bank Financial upgraded Taseko Mines from "sector perform" to "outperform" in a report dated December 10th. Currently, one analyst has rated the stock as a sell, three have assigned a buy rating, and one has designated it as a strong buy. Overall, the stock has a consensus rating of "Moderate Buy" and a price target of $3.50 according to MarketBeat.com.

Taseko Mines Trading Up 6.6%

The company's stock is performing relatively well, having climbed by 6.6%. Taseko Mines has a 50-day moving average of $2.05 and a 200-day moving average of $2.14. The firm's market capitalization stands at $681.57 million, with a price-to-earnings ratio of -73.17 and a beta of 1.61. Financial metrics show a quick ratio of 1.05, a current ratio of 1.71, and a debt-to-equity ratio of 1.48, indicating its financial health.

Institutional Trading of Taseko Mines

In recent months, several hedge funds have been active in buying and selling shares of Taseko Mines. Abacus Wealth Partners LLC made a new investment in the fourth quarter valued at $29,000, while BIP Wealth LLC followed suit with a similar investment of approximately $30,000. Cadence Bank acquired a stake worth about $32,000, and Lido Advisors LLC purchased shares valued at around $37,000. Quantinno Capital Management LP also acquired a new position in Taseko Mines during the third quarter valued at about $38,000. Overall, institutional investors and hedge funds now own about 17.94% of Taseko Mines’ stock.

About Taseko Mines

Taseko Mines Limited is a mining company focused on acquiring, developing, and operating mineral properties. The firm specializes in exploring for copper, molybdenum, gold, niobium, and silver deposits. Taseko's primary asset is the Gibraltar mine in British Columbia, which it fully owns. The company also has interests in several other projects, including the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project, all located in British Columbia. Additionally, Taseko operates the Florence copper project in Arizona.

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Should You Invest $1,000 in Taseko Mines Right Now?

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