Taseko Mines Limited (NYSEAMERICAN:TGB) Stock Has Consensus Target Price of $9.00 According to Brokerages

Taseko Mines Limited (NYSEAMERICAN:TGB) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $9.00.

Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Jefferies Financial Group began coverage on shares of Taseko Mines in a research note on Thursday, August 20th. They issued a “buy” rating on the stock.

Taseko Mines Price Performance

Taseko Mines stock opened at $8.85 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.76 and a current ratio of 1.24. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 442.72 and a beta of 1.41. Taseko Mines has a fifty-two week low of $3.66 and a fifty-two week high of $9.82. The stock’s fifty day moving average is $8.62 and its two-hundred day moving average is $7.60.

Institutional Trading of Taseko Mines

Institutional investors and hedge funds have recently modified their holdings of the business. L1 Capital Pty Ltd increased its position in Taseko Mines by 45.2% during the fourth quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock worth $201,190,000 after buying an additional 11,066,233 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Taseko Mines by 215.3% in the first quarter. Bank of America Corp DE now owns 4,577,781 shares of the company’s stock worth $29,527,000 after acquiring an additional 3,125,829 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Taseko Mines in the first quarter valued at $12,740,000. Royal Bank of Canada lifted its position in shares of Taseko Mines by 1,009.9% in the first quarter. Royal Bank of Canada now owns 1,512,151 shares of the company’s stock valued at $9,753,000 after acquiring an additional 1,375,912 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Taseko Mines in the first quarter valued at $7,198,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

About Taseko Mines

Taseko Mines Limited is a Canadian mining company engaged in the acquisition, development, and operation of copper and other mineral properties. The company is headquartered in Vancouver, British Columbia, and its shares trade on the Toronto Stock Exchange under the symbol TKO and on the NYSE American under the symbol TGB.

Taseko’s principal asset is the Gibraltar Mine in central British Columbia, one of Canada’s largest open-pit copper and molybdenum mines. The operation produces copper concentrate, with molybdenum as a byproduct, and has been in production since the 1970s.