Recent insider trends for Taseko Mines Limited (NYSE:TGB) have caught the attention of investors. Insider data is useful because it can reveal what a company’s executives and largest shareholders feel about a stock. In this case, the data has some interesting things to say about how TGB might perform in the future.
Institutions own 32.67% of Taseko Mines Limited (TGB)’s shares. The total value of these holdings, in millions, is $164. Among active positions in the latest quarter, 35 holders increased their positions by a total of 19.6 million shares, 18 holders decreased the positions by a total of 3.08 million shares, and 15 holders held their positions. This works out to a net increase in ownership of 16.53 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 16 holders initiated new positions by a total of 10.49 million shares and 5 holders exited their positions by a total of 530478 shares. This nets out to an increase of 9.96 million shares and is a bullish sign for TGB.
Insider ownership increased by a total of 0 shares, which suggests that TGB’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.
The analysis of insider buying and selling trends can be extended to the aggregate level. Short interest, which represents the number of a stock’s shares currently being shorted, captures what the market as a whole feels about a stock. Taseko Mines Limited (NYSE:TGB)’s short interest is 806200 shares, or 0.38% of the float. This represents an increase of 24% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
Supplementing insider data with technical indicators can help an investor form a more complete view on the outlook for a stock. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that TGB is a hold, which implies that TGB is expected to perform in line with the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Taseko Mines Limited (NYSE:TGB) is fairly valued.