Taseko Mines Limited (NYSEAMERICAN:TGB) (TSE:TKO) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,750,000 shares, an increase of 27.7% from the March 31st total of 1,370,000 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average trading volume of 3,200,000 shares, the short-interest ratio is currently 0.5 days.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC bought a new position in Taseko Mines in the first quarter valued at about $33,000. Ingalls & Snyder LLC bought a new stake in shares of Taseko Mines during the 4th quarter valued at approximately $43,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Taseko Mines during the 4th quarter valued at approximately $54,000. JPMorgan Chase & Co. increased its position in Taseko Mines by 249.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 73,096 shares of the mining company’s stock worth $75,000 after purchasing an additional 52,200 shares in the last quarter. Finally, Buckingham Strategic Wealth LLC lifted its stake in Taseko Mines by 66.9% in the 1st quarter. Buckingham Strategic Wealth LLC now owns 50,066 shares of the mining company’s stock valued at $86,000 after purchasing an additional 20,066 shares during the last quarter. Institutional investors and hedge funds own 7.91% of the company’s stock.
Several research firms recently issued reports on TGB. Scotiabank boosted their price target on Taseko Mines from $2.00 to $2.50 and gave the company a “sector perform” rating in a research note on Monday, April 12th. Stifel Nicolaus upped their price target on shares of Taseko Mines from $2.00 to $2.50 and gave the company a “hold” rating in a research note on Monday, March 1st. TD Securities lifted their price objective on shares of Taseko Mines from $2.00 to $2.75 and gave the stock a “buy” rating in a research note on Friday, February 26th. Zacks Investment Research raised shares of Taseko Mines from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a report on Tuesday. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Taseko Mines in a report on Thursday, February 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $2.55.
TGB traded up $0.02 on Tuesday, hitting $2.07. 3,237,970 shares of the stock were exchanged, compared to its average volume of 3,069,593. The firm has a market capitalization of $586.05 million, a price-to-earnings ratio of -17.08 and a beta of 2.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.76 and a quick ratio of 1.15. Taseko Mines has a 12 month low of $0.30 and a 12 month high of $2.16. The business has a 50-day moving average of $1.26 and a two-hundred day moving average of $1.07.
Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last issued its earnings results on Wednesday, February 24th. The mining company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $67.07 million during the quarter. Taseko Mines had a negative net margin of 11.61% and a negative return on equity of 12.53%. Equities research analysts expect that Taseko Mines will post -0.09 earnings per share for the current fiscal year.
About Taseko Mines
Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds 75% interest in the Gibraltar mine located in British Columbia. The company also holds 100% interest in Yellowhead copper project, the Aley niobium project, the Harmony Gold Project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.
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