Taseko Mines (NYSEAMERICAN:TGB) Downgraded to “Hold” at Zacks Investment Research

Taseko Mines (NYSEAMERICAN:TGBGet Rating) (TSE:TKO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Taseko Mines is focused on acquiring ownership of and advancing exploration and related activities on known mineral deposits that have as their basic characteristic, large tonnage (based on extensive drill testing for continuity) mineralization which, under metals price assumptions that fall within historical averages, are potentially capable of supporting a mine for 10 years and longer. “

TGB has been the subject of a number of other research reports. Panmure Gordon raised shares of Taseko Mines from a “hold” rating to a “buy” rating and set a $3.38 target price for the company in a research note on Thursday, March 10th. Scotiabank boosted their target price on shares of Taseko Mines from C$2.75 to C$3.00 in a research note on Wednesday, April 13th. Stifel Nicolaus raised shares of Taseko Mines from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, National Bank Financial boosted their target price on shares of Taseko Mines from C$3.00 to C$3.25 in a research note on Friday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.27.

NYSEAMERICAN TGB opened at $2.12 on Friday. The firm has a market cap of $606.28 million, a P/E ratio of 21.20 and a beta of 2.21. Taseko Mines has a 1 year low of $1.49 and a 1 year high of $2.67. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.26 and a quick ratio of 2.49.

Taseko Mines (NYSEAMERICAN:TGBGet Rating) (TSE:TKO) last released its quarterly earnings data on Tuesday, February 22nd. The mining company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Taseko Mines had a net margin of 8.46% and a return on equity of 13.48%. The company had revenue of $81.69 million during the quarter. On average, equities analysts predict that Taseko Mines will post 0.23 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of TGB. National Bank of Canada FI acquired a new position in Taseko Mines in the 4th quarter valued at about $138,000. Cambridge Investment Research Advisors Inc. acquired a new position in Taseko Mines in the 4th quarter valued at about $30,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Taseko Mines by 1.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,387,240 shares of the mining company’s stock valued at $15,195,000 after purchasing an additional 92,800 shares during the last quarter. Versor Investments LP acquired a new position in Taseko Mines in the 4th quarter valued at about $75,000. Finally, Toronto Dominion Bank boosted its holdings in Taseko Mines by 58.1% in the 4th quarter. Toronto Dominion Bank now owns 32,103 shares of the mining company’s stock valued at $66,000 after purchasing an additional 11,803 shares during the last quarter. Hedge funds and other institutional investors own 20.95% of the company’s stock.

About Taseko Mines (Get Rating)

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds 75% interest in the Gibraltar mine located in British Columbia. It also holds 100% interest in Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.

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