Taseko Mines Limited (NYSEAMERICAN:TGB) Receives $9.00 Consensus PT from Brokerages

Shares of Taseko Mines Limited (NYSEAMERICAN:TGB) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.00.

Several equities analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Taseko Mines in a report on Thursday, August 20th. They set a “buy” rating on the stock. Cantor Fitzgerald raised Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Thursday, May 7th. Finally, Zacks Research upgraded Taseko Mines from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th.

Hedge Funds Weigh In On Taseko Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. L1 Capital Pty Ltd boosted its holdings in shares of Taseko Mines by 45.2% in the 4th quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock valued at $201,190,000 after buying an additional 11,066,233 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Taseko Mines by 11.7% in 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 buying an additional 854,016 shares during the last quarter. Mackenzie Financial Corp raised its stake 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 acquiring an additional 2,794,210 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Taseko Mines by 4.9% during the 1st quarter. Renaissance Technologies LLC now owns 5,682,070 shares of the company’s stock worth $36,649,000 after acquiring an additional 267,640 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Taseko Mines by 215.3% during the first quarter. Bank of America Corp DE now owns 4,577,781 shares of the company’s stock valued at $29,527,000 after acquiring an additional 3,125,829 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Taseko Mines Price Performance

Shares of TGB stock opened at $9.23 on Thursday. Taseko Mines has a twelve month low of $3.12 and a twelve month high of $9.61. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $7.54 and a two-hundred day simple moving average of $7.36. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 461.73 and a beta of 1.31.

Taseko Mines Company Profile

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.