Taseko Mines Ltd (AMEX:TGB) shares, rose in value, with the stock price up by 8.37% to the previous day’s close as strong demand from buyers drove the stock to $2.20.
Actively observing the price movement in the last trading, the stock closed the session at $2.03. Referring to stock’s 52-week performance, its high was $3.15, and the low was $1.50. On the whole, TGB has fluctuated by 20.22% over the past month.
With the market capitalization of Taseko Mines Ltd currently standing at about $683.21 million, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 742.28M, with a low estimate of 129.9M and a high estimate of 154M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 141.07M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that TGB’s technical picture suggests that short-term indicators denote the stock is a 25% Buy on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the price of TGB currently trading nearly 4.02% and 8.27% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.86, while the 7-day volatility ratio is showing 5.86% which for the 30-day chart, stands at 5.66%. Furthermore, Taseko Mines Ltd (TGB)’s beta value is 1.55, and its average true range (ATR) is 0.13.
A comparison of Taseko Mines Ltd (TGB) with its peers suggests the former has fared considerably weaker in the market. TGB showed an intraday change of 8.37% in last session, and over the past year, it grew by 40.13%%. In comparison, Hudbay Minerals Inc. (HBM) has moved higher at 8.13%% on the day and was up 19.20% over the past 12 months. On the other hand, the price of Western Copper & Gold Corp. (WRN) has risen 0.98%% on the day. The stock, however, is off -26.95% from where it was a year ago. Additionally, there is a gain of 7.51%% for Teck Resources Ltd. Cl B (TECK) in last trading while the stock has seen an overall depriciation of 5.06%% over the past year.
Data on historical trading for Taseko Mines Ltd (AMEX:TGB) indicates that the trading volumes over the past 3 months, they’ve averaged 4.53 million. According to company’s latest data on outstanding shares, there are 304.68 million shares outstanding.
Nearly 2.31% of Taseko Mines Ltd’s shares belong to company insiders and institutional investors own 26.43% of the company’s shares. The stock has risen by 13.40% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TGB stock heading into the next quarter.
