Taseko Mines Limited (NYSEAMERICAN:TGB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Taseko Mines Limited (NYSEAMERICAN:TGB) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.00.

A number of equities analysts recently commented on TGB shares. Cantor Fitzgerald raised shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Thursday. TD Securities reaffirmed a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. Zacks Research lowered shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Taseko Mines in a research note on Wednesday, January 14th. Finally, Canaccord Genuity Group raised their price objective on shares of Taseko Mines from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st.

Taseko Mines Price Performance

Taseko Mines stock traded down $0.27 during mid-day trading on Thursday, hitting $7.25. The company’s stock had a trading volume of 6,617,230 shares, compared to its average volume of 6,531,066. The company has a quick ratio of 0.92, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2.65 billion, a P/E ratio of -103.56 and a beta of 1.26. Taseko Mines has a twelve month low of $1.89 and a twelve month high of $9.25. The stock’s fifty day moving average price is $7.12 and its two-hundred day moving average price is $6.32.

Hedge Funds Weigh In On Taseko Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGB. L1 Capital Pty Ltd boosted its stake in Taseko Mines by 45.2% in the 4th quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock worth $201,190,000 after purchasing an additional 11,066,233 shares during the period. TD Asset Management Inc boosted its stake in Taseko Mines by 815.7% in the 4th quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock worth $20,608,000 after purchasing an additional 3,238,558 shares during the period. Montrusco Bolton Investments Inc. acquired a new position in Taseko Mines in the 3rd quarter worth approximately $12,260,000. Mackenzie Financial Corp boosted its stake in Taseko Mines by 78.6% in the 4th quarter. Mackenzie Financial Corp now owns 6,350,898 shares of the company’s stock worth $35,818,000 after purchasing an additional 2,794,210 shares during the period. Finally, Hatch Cove Capital LLC acquired a new position in Taseko Mines in the 4th quarter worth approximately $14,773,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Taseko Mines

Taseko Mines Ltd. is a Vancouver‐based mining company primarily engaged in the exploration, development and production of copper‐based projects. Its flagship operation is the Gibraltar copper mine in central British Columbia, which ranks among Canada’s largest open pit copper producers. In addition to copper, Gibraltar yields byproducts such as molybdenum and silver, reflecting Taseko’s focus on base and precious metals.

Beyond Gibraltar, Taseko holds two advanced development assets.