Taseko Mines Limited (NYSE:TGB) Receives Average Rating of “Buy” from Analysts

Shares of Taseko Mines Limited (NYSE:TGB) have earned an average rating of “Buy” from the four brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $3.50.

TGB has been the topic of several research analyst reports. StockNews.com raised Taseko Mines from a “sell” rating to a “hold” rating in a research note on Wednesday. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th.

Taseko Mines Trading Down 0.5 %

NYSE:TGB opened at $2.08 on Tuesday. The stock has a market capitalization of $633.41 million, a price-to-earnings ratio of 10.95 and a beta of 1.72. Taseko Mines has a 1 year low of $1.25 and a 1 year high of $3.15. The stock has a fifty day moving average price of $2.22 and a two-hundred day moving average price of $2.28. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71.

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

Hedge Funds Weigh In On Taseko Mines

Several institutional investors and hedge funds have recently modified their holdings of TGB. American Century Companies Inc. lifted its stake in shares of Taseko Mines by 752.2% during the 2nd quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock worth $1,734,000 after purchasing an additional 621,352 shares during the period. Bank of Montreal Can boosted its stake in Taseko Mines by 296.8% in the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after buying an additional 2,364,116 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Taseko Mines by 87.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 491,388 shares of the company’s stock worth $1,204,000 after buying an additional 229,849 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Taseko Mines by 14.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock valued at $14,465,000 after acquiring an additional 755,192 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in shares of Taseko Mines during the 2nd quarter valued at about $1,192,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.