Taseko Mines (TGB) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) from a sell rating to a hold rating in a research report report published on Friday morning.
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. “
Other equities research analysts also recently issued reports about the stock. TD Securities upgraded shares of Taseko Mines from a hold rating to a buy rating in a report on Wednesday, August 8th. TheStreet downgraded shares of Taseko Mines from a c- rating to a d rating in a report on Friday, August 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $0.75.
Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last posted its earnings results on Tuesday, August 7th. The mining company reported $0.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The business had revenue of $73.06 million for the quarter.
Several hedge funds and other institutional investors have recently modified their holdings of TGB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Taseko Mines during the second quarter worth about $230,000. Millennium Management LLC lifted its position in Taseko Mines by 58.8% during the first quarter. Millennium Management LLC now owns 261,764 shares of the mining company’s stock valued at $301,000 after buying an additional 96,892 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its position in Taseko Mines by 44.7% during the third quarter. CIBC World Markets Inc. now owns 492,198 shares of the mining company’s stock valued at $394,000 after buying an additional 152,148 shares in the last quarter.
Taseko Mines Company Profile
Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.
Recommended Story: Leveraged Buyout (LBO) Explained
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Taseko Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taseko Mines and related companies with MarketBeat.com's FREE daily email newsletter.