Short Interest in Taseko Mines Ltd (TGB) Drops By 20.4%

Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) was the recipient of a large decline in short interest in the month of December. As of December 29th, there was short interest totalling 421,444 shares, a decline of 20.4% from the December 15th total of 529,379 shares. Based on an average daily volume of 894,855 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the company’s shares are sold short.

Shares of Taseko Mines (TGB) opened at $1.93 on Thursday. Taseko Mines has a fifty-two week low of $1.00 and a fifty-two week high of $2.46. The company has a market cap of $461.20, a PE ratio of 12.06 and a beta of 2.75.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last announced its quarterly earnings results on Thursday, October 26th. The mining company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Taseko Mines had a net margin of 25.65% and a return on equity of 21.86%.

A number of brokerages have commented on TGB. BidaskClub upgraded shares of Taseko Mines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 7th. Zacks Investment Research upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a research note on Friday, October 20th. Finally, TheStreet upgraded shares of Taseko Mines from a “d+” rating to a “c-” rating in a research note on Wednesday, October 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $2.50.

Hedge funds have recently bought and sold shares of the stock. QS Investors LLC bought a new position in Taseko Mines during the second quarter valued at approximately $142,000. Bank of Montreal Can grew its position in Taseko Mines by 93.9% during the fourth quarter. Bank of Montreal Can now owns 67,543 shares of the mining company’s stock valued at $158,000 after acquiring an additional 32,713 shares during the last quarter. Stifel Financial Corp bought a new position in Taseko Mines during the third quarter valued at approximately $168,000. Wells Fargo & Company MN grew its holdings in shares of Taseko Mines by 342.5% in the third quarter. Wells Fargo & Company MN now owns 103,550 shares of the mining company’s stock worth $191,000 after purchasing an additional 80,150 shares during the last quarter. Finally, Cavalier Investments LLC bought a new position in shares of Taseko Mines in the third quarter worth approximately $260,000.

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About Taseko Mines

Taseko Mines Limited is a mining company. The Company is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada and the State of Arizona, the United States. Its projects represent a range of metals, including gold, copper and niobium.

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