Taseko Mines (NYSEAMERICAN:TGB) Shares Gap Up to $2.16

Taseko Mines Limited (NYSEAMERICAN:TGB) (TSE:TKO) shares gapped up prior to trading on Thursday . The stock had previously closed at $2.16, but opened at $2.25. Taseko Mines shares last traded at $2.23, with a volume of 9,151 shares.

Several brokerages recently weighed in on TGB. Zacks Investment Research raised Taseko Mines from a “sell” rating to a “hold” rating in a report on Friday, August 20th. Scotiabank cut their target price on Taseko Mines from C$2.75 to C$2.60 and set a “sector perform” rating for the company in a research note on Tuesday. TheStreet downgraded Taseko Mines from a “c-” rating to a “d+” rating in a research note on Thursday, July 15th. Finally, National Bank Financial cut their target price on Taseko Mines from C$3.25 to C$3.00 and set a “sector perform” rating for the company in a research note on Friday, August 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.64.

The stock has a market cap of $624.52 million, a PE ratio of 72.02 and a beta of 2.49. The company has a quick ratio of 2.73, a current ratio of 3.25 and a debt-to-equity ratio of 1.61.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last issued its quarterly earnings results on Wednesday, August 4th. The mining company reported $0.03 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.03. The firm had revenue of $90.36 million during the quarter. Taseko Mines had a negative return on equity of 2.66% and a net margin of 2.47%. As a group, equities analysts expect that Taseko Mines Limited will post 0.16 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Taseko Mines in the 2nd quarter worth approximately $649,000. Morgan Stanley lifted its position in Taseko Mines by 86.2% in the 2nd quarter. Morgan Stanley now owns 437,666 shares of the mining company’s stock worth $927,000 after buying an additional 202,641 shares during the last quarter. Bank of America Corp DE increased its stake in Taseko Mines by 30.9% in the 2nd quarter. Bank of America Corp DE now owns 440,147 shares of the mining company’s stock worth $933,000 after purchasing an additional 104,000 shares during the period. Goldman Sachs Group Inc. purchased a new position in Taseko Mines in the 2nd quarter worth approximately $588,000. Finally, Jacobi Capital Management LLC increased its stake in Taseko Mines by 32.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 40,500 shares of the mining company’s stock worth $86,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 18.91% of the company’s stock.

About Taseko Mines (NYSEAMERICAN:TGB)

Taseko Mines Ltd. operates as a mining company, which engages in the acquisition, development, and operation of mineral deposits. It holds interest in Gibraltar, Florence Copper, Aley Niobium, Yellowhead, New Prosperity, and Harmony projects. The company was founded on April 15, 1966 and is headquartered in Vancouver, Canada.

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