Taseko Mines Ltd (TGB) Lowered to Hold at 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 report issued to clients and investors on Thursday.
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 a number of other research reports. BidaskClub raised Taseko Mines from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. ValuEngine raised Taseko Mines from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $1.25.
Shares of Taseko Mines (TGB) opened at 2.17 on Thursday. Taseko Mines has a one year low of $0.41 and a one year high of $2.24. The firm has a 50-day moving average price of $1.86 and a 200 day moving average price of $1.43. The stock has a market capitalization of $490.91 million and a PE ratio of 52.93.
Large investors have recently made changes to their positions in the company. QS Investors LLC purchased a new stake in Taseko Mines during the second quarter valued at about $142,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Taseko Mines by 147.1% during 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 acquiring an additional 80,686 shares during the period. JPMorgan Chase & Co. purchased a new stake in Taseko Mines during the first quarter valued at about $192,000. Russell Investments Group Ltd. purchased a new stake in Taseko Mines during the first quarter valued at about $208,000. Finally, Spark Investment Management LLC purchased a new stake in Taseko Mines during the first quarter valued at about $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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