Taseko Mines (NYSE:TGB) Shares Gap Up – Should You Buy?

Taseko Mines Limited (NYSE:TGB) gapped up before the market opened on Tuesday . The stock had previously closed at $2.09, but opened at $2.16. Taseko Mines shares last traded at $2.13, with a volume of 157,745 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on TGB. StockNews.com downgraded Taseko Mines from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

Taseko Mines Stock Up 1.4 %

The stock has a market cap of $645.59 million, a price-to-earnings ratio of 11.13 and a beta of 1.72. The stock has a 50 day simple moving average of $2.26 and a 200 day simple moving average of $2.30. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

Taseko Mines (NYSE:TGB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. The business had revenue of $114.08 million for the quarter, compared to the consensus estimate of $112.48 million. As a group, analysts expect that Taseko Mines Limited will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taseko Mines

Several large investors have recently added to or reduced their stakes in TGB. American Century Companies Inc. boosted its holdings in Taseko Mines by 752.2% during the second quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock worth $1,734,000 after purchasing an additional 621,352 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Taseko Mines by 296.8% in the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after buying an additional 2,364,116 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Taseko Mines by 87.9% in the second quarter. Dimensional Fund Advisors LP now owns 491,388 shares of the company’s stock valued at $1,204,000 after acquiring an additional 229,849 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Taseko Mines by 14.7% during the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock valued at $14,465,000 after acquiring an additional 755,192 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in Taseko Mines during the second quarter worth $1,192,000. Institutional investors 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.