Taseko Mines Ltd (TGB) Lowered 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. “
Separately, Scotiabank reissued a sector perform rating and set a $0.80 price target on shares of Taseko Mines in a research note on Thursday, July 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Taseko Mines presently has an average rating of Hold and an average target price of $0.78.
Taseko Mines (NYSE:TGB) traded down 1.4461% during mid-day trading on Thursday, hitting $0.4498. 17,755 shares of the stock were exchanged. The stock has a 50 day moving average price of $0.47 and a 200 day moving average price of $0.52. The company’s market capitalization is $99.78 million. Taseko Mines has a 1-year low of $0.23 and a 1-year high of $0.70.
Taseko Mines (NYSE:TGB) last announced its quarterly earnings results on Tuesday, July 26th. The mining company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.02. The company earned $55.01 million during the quarter, compared to the consensus estimate of $62 million. During the same period in the previous year, the firm posted $0.01 earnings per share. The company’s revenue was down 40.6% compared to the same quarter last year. On average, equities analysts anticipate that Taseko Mines will post ($0.21) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Taseko Mines stock. Renaissance Technologies LLC boosted its position in shares of Taseko Mines Ltd (NYSE:TGB) by 21.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,067,900 shares of the mining company’s stock after buying an additional 358,700 shares during the period. Renaissance Technologies LLC owned about 0.93% of Taseko Mines worth $1,166,000 as of its most recent SEC filing.
About Taseko Mines
Taseko Mines Limited is a mining company. The Company is 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 operating asset is the Gibraltar Mine, a copper mine located in central British Columbia.
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