Taseko Mines Ltd (TGB) Stock Rating Lowered by Zacks Investment Research
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 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. “
TGB has been the subject of several other research reports. ValuEngine upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating in a report on Friday, June 16th. BidaskClub upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $1.25.
Shares of Taseko Mines (NYSEMKT:TGB) opened at 1.90 on Tuesday. The company has a 50-day moving average of $1.51 and a 200-day moving average of $1.33. Taseko Mines has a one year low of $0.41 and a one year high of $1.92. The company has a market capitalization of $429.83 million and a PE ratio of 47.50.
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Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Taseko Mines during the fourth quarter valued at approximately $869,000. Acadian Asset Management LLC increased its stake in shares of Taseko Mines by 50.5% in the second quarter. Acadian Asset Management LLC now owns 3,421,799 shares of the mining company’s stock valued at $4,350,000 after buying an additional 1,147,605 shares in the last quarter. Greystone Managed Investments Inc. purchased a new stake in shares of Taseko Mines during the second quarter valued at approximately $3,304,000. Russell Investments Group Ltd. purchased a new stake in shares of Taseko Mines during the first quarter valued at approximately $208,000. Finally, CIBC World Markets Inc. increased its stake in shares of Taseko Mines by 23.3% in the first quarter. CIBC World Markets Inc. now owns 299,009 shares of the mining company’s stock valued at $395,000 after buying an additional 56,530 shares in the last quarter.
About Taseko Mines
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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