Taseko Mines (NYSEAMERICAN:TGB) Given New C$14.00 Price Target at Canaccord Genuity Group

Taseko Mines (NYSEAMERICAN:TGB) had its price objective boosted by Canaccord Genuity Group from C$13.50 to C$14.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on TGB. BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research note on Wednesday, January 14th. Zacks Research cut Taseko Mines from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Finally, TD Securities restated a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Taseko Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Taseko Mines Price Performance

Taseko Mines stock opened at $7.10 on Tuesday. The stock has a market capitalization of $2.59 billion, a P/E ratio of -101.41 and a beta of 1.32. The company’s fifty day moving average price is $7.26 and its 200 day moving average price is $6.14. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.92 and a current ratio of 1.50. Taseko Mines has a 1 year low of $1.89 and a 1 year high of $9.25.

Institutional Investors Weigh In On Taseko Mines

Several hedge funds and other institutional investors have recently made changes to their positions in TGB. First United Bank & Trust purchased a new position in Taseko Mines during the first quarter worth approximately $79,000. Rehmann Capital Advisory Group purchased a new position in shares of Taseko Mines during the 4th quarter worth $283,000. Koenig Investment Advisory LLC acquired a new position in shares of Taseko Mines during the 4th quarter valued at about $1,420,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Taseko Mines during the 4th quarter valued at about $51,000. Finally, Virtu Financial LLC purchased a new stake in shares of Taseko Mines in the fourth quarter valued at about $526,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

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.