Taseko Mines Limited (NYSEAMERICAN:TGB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Taseko Mines Limited (NYSEAMERICAN:TGB) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $9.00.

Several equities research analysts have recently commented on the company. Zacks Research raised Taseko Mines from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Cantor Fitzgerald upgraded Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Thursday, May 7th. Finally, Jefferies Financial Group began coverage on shares of Taseko Mines in a research report on Thursday. They issued a “buy” rating on the stock.

Taseko Mines Price Performance

Shares of Taseko Mines stock traded down $0.07 during trading on Thursday, reaching $8.39. The company’s stock had a trading volume of 309,099 shares, compared to its average volume of 6,022,940. The business has a 50 day moving average price of $7.37 and a 200-day moving average price of $7.32. Taseko Mines has a 12-month low of $3.07 and a 12-month high of $9.25. The company has a market capitalization of $3.07 billion, a P/E ratio of 417.96 and a beta of 1.31. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.85.

Institutional Investors Weigh In On Taseko Mines

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in Taseko Mines by 1,009.9% in the 1st quarter. Royal Bank of Canada now owns 1,512,151 shares of the company’s stock valued at $9,753,000 after buying an additional 1,375,912 shares during the period. Bank of America Corp DE boosted its position in shares of Taseko Mines by 215.3% in the first quarter. Bank of America Corp DE now owns 4,577,781 shares of the company’s stock worth $29,527,000 after acquiring an additional 3,125,829 shares during the last quarter. Militia Capital Management LLC acquired a new stake in shares of Taseko Mines in the first quarter worth approximately $1,745,000. TD Asset Management Inc grew its holdings in Taseko Mines by 815.7% in the fourth quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock valued at $20,608,000 after purchasing an additional 3,238,558 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Taseko Mines by 4.9% in the first quarter. Renaissance Technologies LLC now owns 5,682,070 shares of the company’s stock valued at $36,649,000 after purchasing an additional 267,640 shares during the period. Institutional investors and hedge funds own 17.94% of the company’s stock.

Taseko Mines Company Profile

Taseko Mines Ltd. is a Vancouver‐based mining company primarily engaged in the exploration, development and production of copper‐based projects. Its flagship operation is the Gibraltar copper mine in central British Columbia, which ranks among Canada’s largest open pit copper producers. In addition to copper, Gibraltar yields byproducts such as molybdenum and silver, reflecting Taseko’s focus on base and precious metals.

Beyond Gibraltar, Taseko holds two advanced development assets.