Taseko Mines (NYSE:TGB) Sees Large Volume Increase – Here’s What Happened

Taseko Mines Limited (NYSE:TGB) shares saw an uptick in trading volume on Tuesday . 6,304,037 shares were traded during mid-day trading, an increase of 37% from the previous session’s volume of 4,587,473 shares.The stock last traded at $2.26 and had previously closed at $2.24.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of Taseko Mines from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 10th.

Taseko Mines Trading Down 3.4 %

The firm has a 50 day moving average price of $2.15 and a two-hundred day moving average price of $2.17. The firm has a market capitalization of $666.29 million, a P/E ratio of -71.50 and a beta of 1.61. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in shares of Taseko Mines during the 3rd quarter worth $128,000. BNP Paribas Financial Markets grew its holdings in shares of Taseko Mines by 272.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 53,142 shares of the company’s stock worth $134,000 after purchasing an additional 38,876 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Taseko Mines by 66.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,758 shares of the company’s stock valued at $172,000 after buying an additional 27,043 shares during the period. Centiva Capital LP lifted its holdings in shares of Taseko Mines by 125.9% during the 3rd quarter. Centiva Capital LP now owns 196,072 shares of the company’s stock worth $494,000 after acquiring an additional 109,284 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in Taseko Mines in the third quarter worth about $38,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Taseko Mines

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.