StockNews.com Upgrades Taseko Mines (NYSE:TGB) to Hold

Taseko Mines (NYSE:TGB) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Taseko Mines Stock Performance

NYSE:TGB opened at $1.98 on Friday. Taseko Mines has a 12 month low of $1.67 and a 12 month high of $3.15. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The firm has a market capitalization of $615.04 million, a PE ratio of -66.00 and a beta of 1.48. The business’s fifty day moving average price is $2.14 and its 200 day moving average price is $2.15.

Institutional Investors Weigh In On Taseko Mines

Several institutional investors have recently added to or reduced their stakes in TGB. Public Employees Retirement System of Ohio increased its position in shares of Taseko Mines by 8.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 94,776 shares of the company’s stock worth $185,000 after purchasing an additional 6,987 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Taseko Mines by 14.4% during the 4th quarter. Two Sigma Advisers LP now owns 442,900 shares of the company’s stock worth $859,000 after purchasing an additional 55,600 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Taseko Mines by 6.3% during the fourth quarter. Two Sigma Investments LP now owns 998,760 shares of the company’s stock worth $1,938,000 after buying an additional 59,537 shares in the last quarter. Man Group plc purchased a new position in Taseko Mines in the 4th quarter valued at approximately $236,000. Finally, Millennium Management LLC increased its position in shares of Taseko Mines by 105.0% in the fourth quarter. Millennium Management LLC now owns 1,174,453 shares of the company’s stock valued at $2,279,000 after buying an additional 601,684 shares in the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company’s principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the 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.