Taseko Mines Ltd (TGB) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Taseko Mines Ltd (NYSEMKT:TGB) (TSE:TKO) from a hold rating to a buy rating in a report published on Wednesday. The firm currently has $2.00 price objective on the mining company’s stock.
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. “
Several other research firms have also recently weighed in on TGB. ValuEngine upgraded shares of Taseko Mines from a hold rating to a buy rating in a research report on Friday, June 16th. BidaskClub upgraded shares of Taseko Mines from a hold rating to a buy rating in a research report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $1.25.
Shares of Taseko Mines (NYSEMKT TGB) opened at 1.90 on Wednesday. The company’s 50-day moving average price is $1.51 and its 200-day moving average price is $1.33. Taseko Mines has a 52-week low of $0.41 and a 52-week high of $1.92. The company has a market capitalization of $429.83 million and a price-to-earnings ratio of 47.50.
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Institutional investors have recently added to or reduced their stakes in the stock. QS Investors LLC acquired a new position in Taseko Mines during the second quarter valued at approximately $142,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Taseko Mines by 147.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 135,530 shares of the mining company’s stock valued at $179,000 after buying an additional 80,686 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Taseko Mines during the first quarter valued at approximately $192,000. Russell Investments Group Ltd. acquired a new position in Taseko Mines during the first quarter valued at approximately $208,000. Finally, Spark Investment Management LLC acquired a new position in Taseko Mines during the first quarter valued at approximately $289,000.
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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