Short Interest in Taseko Mines Ltd (TGB) Rises By 216.5%

Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 397,064 shares, an increase of 216.5% from the August 15th total of 125,471 shares. Based on an average daily volume of 368,178 shares, the short-interest ratio is presently 1.1 days.

Shares of NYSEAMERICAN TGB remained flat at $$0.80 during mid-day trading on Friday. 55,261 shares of the stock were exchanged, compared to its average volume of 775,668. Taseko Mines has a one year low of $0.68 and a one year high of $2.46.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last issued its quarterly earnings data on Tuesday, August 7th. The mining company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Taseko Mines had a negative net margin of 7.97% and a negative return on equity of 8.19%. The business had revenue of $73.06 million during the quarter.

A number of research firms recently weighed in on TGB. TheStreet downgraded shares of Taseko Mines from a “c-” rating to a “d” rating in a research report on Friday, August 31st. Zacks Investment Research upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. Finally, TD Securities upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $0.75.

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its stake in Taseko Mines by 136.7% in the 4th quarter. Millennium Management LLC now owns 164,872 shares of the mining company’s stock worth $384,000 after purchasing an additional 95,232 shares in the last quarter. Barclays PLC bought a new position in Taseko Mines in the 1st quarter valued at about $144,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Taseko Mines in the 2nd quarter valued at about $230,000. Finally, CIBC World Markets Inc. increased its holdings in Taseko Mines by 333.0% in the 1st quarter. CIBC World Markets Inc. now owns 295,270 shares of the mining company’s stock valued at $340,000 after buying an additional 227,085 shares during the period.

Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.

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