Shares of Taseko Mines Limited (NYSEAMERICAN:TGB – Get Rating) (TSE:TKO) have been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $3.21.
Several brokerages have recently commented on TGB. Scotiabank increased their price objective on Taseko Mines from C$2.75 to C$3.00 in a report on Wednesday, April 13th. Zacks Investment Research downgraded Taseko Mines from a “buy” rating to a “hold” rating in a research report on Friday, April 22nd. Stifel Nicolaus dropped their target price on Taseko Mines from C$3.70 to C$3.40 in a research report on Wednesday, May 18th. BMO Capital Markets dropped their target price on Taseko Mines from C$3.50 to C$3.25 in a research report on Friday, May 6th. Finally, Panmure Gordon raised shares of Taseko Mines from a “hold” rating to a “buy” rating and set a $3.38 price target on the stock in a research note on Thursday, March 10th.
NYSEAMERICAN:TGB opened at $1.59 on Wednesday. The company has a current ratio of 3.26, a quick ratio of 2.49 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $455.26 million, a P/E ratio of 15.90 and a beta of 2.21. Taseko Mines has a 12 month low of $1.30 and a 12 month high of $2.56.
Several large investors have recently made changes to their positions in TGB. Renaissance Technologies LLC grew its position in Taseko Mines by 18.6% during the first quarter. Renaissance Technologies LLC now owns 7,913,714 shares of the mining company’s stock worth $18,139,000 after buying an additional 1,240,532 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Taseko Mines by 1.3% during the fourth 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 buying an additional 92,800 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Taseko Mines by 88.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 6,462,532 shares of the mining company’s stock valued at $14,799,000 after buying an additional 3,027,636 shares during the period. BlackRock Inc. lifted its stake in shares of Taseko Mines by 7,437.1% during the first quarter. BlackRock Inc. now owns 2,464,409 shares of the mining company’s stock valued at $5,644,000 after buying an additional 2,431,712 shares during the period. Finally, Moore Capital Management LP lifted its stake in shares of Taseko Mines by 44.6% during the third quarter. Moore Capital Management LP now owns 2,409,137 shares of the mining company’s stock valued at $4,553,000 after buying an additional 742,874 shares during the period. 20.95% of the stock is owned by institutional investors and hedge funds.
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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