Short Interest in Taseko Mines Ltd (TGB) Decreases By 31.1%

Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 139,409 shares, a drop of 31.1% from the December 14th total of 202,262 shares. Based on an average daily volume of 652,876 shares, the days-to-cover ratio is currently 0.2 days.

A number of brokerages have recently weighed in on TGB. Zacks Investment Research upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a report on Tuesday, January 1st. National Bank Financial restated a “buy” rating on shares of Taseko Mines in a report on Wednesday, December 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $0.75.

Shares of NYSEAMERICAN:TGB opened at $0.62 on Friday. Taseko Mines has a 12 month low of $0.44 and a 12 month high of $2.07.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last announced its quarterly earnings results on Wednesday, October 31st. The mining company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The company had revenue of $56.85 million for the quarter.

A number of large investors have recently made changes to their positions in TGB. Credit Suisse AG acquired a new stake in Taseko Mines during the 3rd quarter worth $640,000. Renaissance Technologies LLC raised its stake in Taseko Mines by 11.1% during the 3rd quarter. Renaissance Technologies LLC now owns 6,994,904 shares of the mining company’s stock worth $5,596,000 after acquiring an additional 699,104 shares in the last quarter. Finally, CIBC World Markets Inc. raised its stake in Taseko Mines by 44.7% during the 3rd quarter. CIBC World Markets Inc. now owns 492,198 shares of the mining company’s stock worth $394,000 after acquiring an additional 152,148 shares in the last quarter.

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About Taseko Mines

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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