Taseko Mines Ltd (TGB) Downgraded by Zacks Investment Research to “Hold”
Taseko Mines Ltd (NYSEMKT:TGB) (TSE:TKO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Taseko Mines is focused on acquiring ownership of and advancing exploration and related activities on known mineral deposits that have as their basic characteristic, large tonnage (based on extensive drill testing for continuity) mineralization which, under metals price assumptions that fall within historical averages, are potentially capable of supporting a mine for 10 years and longer. “
A number of other equities research analysts have also recently commented on TGB. BidaskClub upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. ValuEngine upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating in a report on Friday, June 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Taseko Mines currently has a consensus rating of “Hold” and a consensus target price of $1.25.
Shares of Taseko Mines (NYSEMKT TGB) traded down 1.09% during trading on Tuesday, reaching $1.81. The company’s stock had a trading volume of 438,662 shares. The company’s 50-day moving average is $1.51 and its 200-day moving average is $1.33. The company has a market capitalization of $409.47 million and a P/E ratio of 45.25. Taseko Mines has a 12 month low of $0.41 and a 12 month high of $1.90.
A number of hedge funds have recently made changes to their positions in TGB. Royal Bank of Canada raised its stake in shares of Taseko Mines by 33.0% in the second quarter. Royal Bank of Canada now owns 430,791 shares of the mining company’s stock valued at $546,000 after buying an additional 106,879 shares in the last quarter. QS Investors LLC bought a new stake in shares of Taseko Mines during the second quarter valued at approximately $142,000. Hillsdale Investment Management Inc. bought a new stake in shares of Taseko Mines during the second quarter valued at approximately $1,026,000. Impala Asset Management LLC raised its stake in shares of Taseko Mines by 26.5% in the second quarter. Impala Asset Management LLC now owns 2,883,264 shares of the mining company’s stock valued at $3,662,000 after buying an additional 603,264 shares in the last quarter. Finally, AJO LP bought a new stake in shares of Taseko Mines during the second quarter valued at approximately $1,087,000.
Taseko Mines Company Profile
Taseko Mines Limited is a mining company. The Company is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada and the State of Arizona, the United States. Its projects represent a range of metals, including gold, copper and niobium.
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