Taseko Mines (NYSE:TGB) Price Target Raised to $3.50 at TD Securities

Taseko Mines (NYSE:TGB) had its price target lifted by TD Securities from $3.25 to $3.50 in a research report released on Tuesday morning, Benzinga reports. TD Securities currently has a buy rating on the stock.

Several other equities analysts also recently commented on TGB. Stifel Nicolaus initiated coverage on Taseko Mines in a research report on Tuesday. They set a buy rating for the company. TheStreet upgraded Taseko Mines from a d rating to a c rating in a research report on Thursday, March 14th.

Taseko Mines Price Performance

Shares of TGB stock opened at $2.17 on Tuesday. The stock has a 50 day moving average of $1.61 and a two-hundred day moving average of $1.39. The company has a current ratio of 1.77, a quick ratio of 0.90 and a debt-to-equity ratio of 1.41. Taseko Mines has a 12 month low of $1.05 and a 12 month high of $2.25. The company has a market capitalization of $630.34 million, a P/E ratio of 10.85 and a beta of 1.94.

Taseko Mines (NYSE:TGB) last posted its earnings results on Thursday, March 7th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $112.90 million for the quarter. Taseko Mines had a return on equity of 11.54% and a net margin of 15.66%. As a group, equities analysts expect that Taseko Mines will post 0.09 EPS for the current year.

Institutional Investors Weigh In On Taseko Mines

A number of hedge funds and other institutional investors have recently bought and sold shares of TGB. BlackRock Inc. increased its holdings in Taseko Mines by 38.8% during the 3rd quarter. BlackRock Inc. now owns 9,769,733 shares of the company’s stock valued at $11,137,000 after purchasing an additional 2,730,110 shares in the last quarter. Anthracite Investment Company Inc. acquired a new stake in Taseko Mines during the 4th quarter valued at $2,077,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Taseko Mines by 22.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,620,259 shares of the company’s stock valued at $10,668,000 after purchasing an additional 1,394,848 shares in the last quarter. Credit Suisse AG increased its holdings in Taseko Mines by 570.8% during the 2nd quarter. Credit Suisse AG now owns 1,604,635 shares of the company’s stock valued at $3,049,000 after purchasing an additional 1,365,423 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Taseko Mines by 18.6% during the 1st quarter. Renaissance Technologies LLC now owns 7,913,714 shares of the company’s stock valued at $18,139,000 after purchasing an additional 1,240,532 shares in the last quarter. 17.94% of the stock is owned by institutional investors and hedge funds.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 87.5% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.