Taseko Mines Limited (NYSEAMERICAN:TGB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Taseko Mines Limited (NYSEAMERICAN:TGBGet 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.

Taseko Mines (NYSEAMERICAN:TGBGet Rating) (TSE:TKO) last announced its quarterly earnings data on Wednesday, May 4th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $93.42 million during the quarter. Taseko Mines had a return on equity of 13.48% and a net margin of 8.46%. On average, equities research analysts anticipate that Taseko Mines will post 0.23 EPS for the current year.

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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Analyst Recommendations for Taseko Mines (NYSEAMERICAN:TGB)

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