Taseko Mines (NYSE:TGB) Hits New 12-Month High at $2.59

Taseko Mines Limited (NYSE:TGB)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $2.59 and last traded at $2.58, with a volume of 951650 shares traded. The stock had previously closed at $2.49.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TGB shares. TD Securities raised their price objective on shares of Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a report on Tuesday, March 26th. TheStreet raised shares of Taseko Mines from a “d” rating to a “c” rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus assumed coverage on shares of Taseko Mines in a report on Tuesday, March 26th. They set a “buy” rating for the company.

Taseko Mines Stock Up 2.0 %

The stock has a market capitalization of $723.87 million, a P/E ratio of 12.45 and a beta of 1.98. The firm’s fifty day moving average is $1.87 and its 200-day moving average is $1.49. The company has a current ratio of 1.77, a quick ratio of 0.90 and a debt-to-equity ratio of 1.41.

Taseko Mines (NYSE:TGB) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Taseko Mines had a net margin of 15.66% and a return on equity of 11.54%. The firm had revenue of $112.90 million for the quarter. As a group, equities research analysts predict that Taseko Mines Limited will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Taseko Mines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cahaba Wealth Management Inc. increased its position in Taseko Mines by 38.2% in the 4th quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock valued at $51,000 after acquiring an additional 9,980 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Taseko Mines in the 3rd quarter valued at about $28,000. Mirae Asset Global Investments Co. Ltd. increased its position in Taseko Mines by 6.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,225,411 shares of the company’s stock valued at $7,906,000 after acquiring an additional 394,376 shares in the last quarter. Barclays PLC increased its position in Taseko Mines by 973.5% in the 2nd quarter. Barclays PLC now owns 60,117 shares of the company’s stock valued at $86,000 after acquiring an additional 54,517 shares in the last quarter. Finally, Acuitas Investments LLC increased its position in Taseko Mines by 29.8% in the 3rd quarter. Acuitas Investments LLC now owns 1,574,844 shares of the company’s stock valued at $2,000,000 after acquiring an additional 361,227 shares in the last quarter. 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.