Taseko Mines (NYSEAMERICAN:TGB) Raised to Hold at Zacks Investment Research
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. “
Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets initiated coverage on shares of Taseko Mines in a research report on Friday, July 5th. They set an “outperform” rating for the company. TD Securities cut shares of Taseko Mines from a “speculative buy” rating to a “hold” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $0.75.
Several large investors have recently bought and sold shares of the company. Hayek Kallen Investment Management lifted its position in shares of Taseko Mines by 33.1% in the 1st quarter. Hayek Kallen Investment Management now owns 235,442 shares of the mining company’s stock worth $139,000 after purchasing an additional 58,500 shares during the period. United Capital Financial Advisers LLC purchased a new stake in shares of Taseko Mines in the 2nd quarter worth about $54,000. Morgan Stanley lifted its position in shares of Taseko Mines by 95.0% in the 2nd quarter. Morgan Stanley now owns 346,703 shares of the mining company’s stock worth $184,000 after purchasing an additional 168,889 shares during the period. PenderFund Capital Management Ltd. purchased a new stake in shares of Taseko Mines in the 2nd quarter worth about $14,177,000. Finally, Renaissance Technologies LLC lifted its position in shares of Taseko Mines by 10.3% in the 2nd quarter. Renaissance Technologies LLC now owns 8,082,234 shares of the mining company’s stock worth $4,284,000 after purchasing an additional 751,444 shares during the period.
Taseko Mines Company Profile
Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.
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