Taseko Mines (NYSE:TGB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Taseko Mines (NYSE:TGB) from a sell rating to a hold rating in a research note released on Wednesday.

Separately, National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $3.50.

Taseko Mines Stock Performance

Shares of Taseko Mines stock opened at $2.08 on Wednesday. The business’s fifty day simple moving average is $2.22 and its 200 day simple moving average is $2.29. The firm has a market capitalization of $633.40 million, a P/E ratio of 10.95 and a beta of 1.72. Taseko Mines has a 12 month low of $1.25 and a 12 month high of $3.15. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48.

Taseko Mines (NYSE:TGB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $114.08 million for the quarter, compared to the consensus estimate of $112.48 million. Taseko Mines had a return on equity of 15.25% and a net margin of 12.69%. As a group, analysts anticipate that Taseko Mines will post 0.14 EPS for the current year.

Institutional Trading of Taseko Mines

A number of large investors have recently bought and sold shares of the company. Tidal Investments LLC increased its position in Taseko Mines by 82.3% in the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock worth $34,507,000 after buying an additional 6,182,981 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Taseko Mines by 14.7% in the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock valued at $14,465,000 after purchasing an additional 755,192 shares in the last quarter. Bank of Montreal Can grew its position in shares of Taseko Mines by 296.8% in the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after purchasing an additional 2,364,116 shares in the last quarter. Anthracite Investment Company Inc. grew its position in shares of Taseko Mines by 6.5% in the third quarter. Anthracite Investment Company Inc. now owns 1,579,460 shares of the company’s stock valued at $3,980,000 after purchasing an additional 96,000 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Taseko Mines by 11.3% in the second quarter. Millennium Management LLC now owns 1,349,795 shares of the company’s stock valued at $3,315,000 after purchasing an additional 136,932 shares in the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

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 100% 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.