Taseko Mines (NYSEAMERICAN:TGB) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Taseko Mines (NYSEAMERICAN:TGB) from a hold rating to a strong sell rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other research firms have also weighed in on TGB. BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research report on Wednesday, January 14th. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Taseko Mines Stock Performance

Shares of Taseko Mines stock opened at $7.73 on Thursday. The firm’s fifty day simple moving average is $7.30 and its 200-day simple moving average is $6.08. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -110.41 and a beta of 1.32. Taseko Mines has a 12 month low of $1.89 and a 12 month high of $9.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 0.92.

Hedge Funds Weigh In On Taseko Mines

A number of hedge funds and other institutional investors have recently bought and sold shares of TGB. L1 Capital Pty Ltd boosted its position in shares of Taseko Mines by 45.2% during the 4th quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock worth $201,190,000 after purchasing an additional 11,066,233 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Taseko Mines by 11.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,126,773 shares of the company’s stock worth $34,376,000 after purchasing an additional 854,016 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Taseko Mines by 78.6% during the 4th quarter. Mackenzie Financial Corp now owns 6,350,898 shares of the company’s stock worth $35,818,000 after purchasing an additional 2,794,210 shares in the last quarter. Mudita Advisors LLP boosted its position in shares of Taseko Mines by 57.4% during the 4th quarter. Mudita Advisors LLP now owns 4,388,401 shares of the company’s stock worth $24,838,000 after purchasing an additional 1,600,000 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Taseko Mines by 815.7% during the 4th quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock worth $20,608,000 after purchasing an additional 3,238,558 shares in the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

About Taseko Mines

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.