Taseko Mines Ltd (TGB) Downgraded to “Sell” 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 reiterated a sector perform rating and set a $0.80 price objective on shares of Taseko Mines in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Taseko Mines presently has an average rating of Hold and a consensus target price of $0.78.
Shares of Taseko Mines (NYSE:TGB) traded up 3.953% during midday trading on Tuesday, hitting $0.447. 20,556 shares of the stock traded hands. The company’s market capitalization is $99.16 million. The firm’s 50 day moving average price is $0.46 and its 200 day moving average price is $0.52. Taseko Mines has a 12-month low of $0.23 and a 12-month high of $0.70.
Taseko Mines (NYSE:TGB) last released its earnings results on Tuesday, July 26th. The mining company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. The business earned $55.01 million during the quarter, compared to analysts’ expectations of $62 million. The business’s quarterly revenue was down 40.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. Analysts expect that Taseko Mines will post ($0.21) EPS for the current year.
A hedge fund recently raised its stake in Taseko Mines stock. Renaissance Technologies LLC increased its stake in Taseko Mines Ltd (NYSE:TGB) by 21.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.93% of Taseko Mines worth $1,166,000 as of its most recent filing with the SEC.
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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