Taseko Mines (NYSEAMERICAN:TGB) Stock Rating Lowered by Zacks Research

Taseko Mines (NYSEAMERICAN:TGB) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

TGB has been the subject of a number of other research reports. BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research note on Wednesday, January 14th. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.00.

Taseko Mines Stock Performance

NYSEAMERICAN:TGB opened at $7.73 on Thursday. The company has a fifty day simple moving average of $7.30 and a two-hundred day simple moving average of $6.07. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -110.41 and a beta of 1.32. The company has a quick ratio of 0.92, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. Taseko Mines has a 52 week low of $1.89 and a 52 week high of $9.25.

Hedge Funds Weigh In On Taseko Mines

Institutional investors and hedge funds have recently modified their holdings of the company. Intact Investment Management Inc. boosted its stake in Taseko Mines by 17.8% in the third quarter. Intact Investment Management Inc. now owns 1,035,500 shares of the company’s stock valued at $4,390,000 after acquiring an additional 156,200 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new position in Taseko Mines in the third quarter valued at $12,260,000. PCJ Investment Counsel Ltd. acquired a new position in Taseko Mines in the third quarter valued at $3,080,000. Mudita Advisors LLP boosted its stake in Taseko Mines by 75.4% in the third quarter. Mudita Advisors LLP now owns 2,788,401 shares of the company’s stock valued at $11,795,000 after acquiring an additional 1,198,700 shares in the last quarter. Finally, Alps Advisors Inc. boosted its stake in Taseko Mines by 40.1% in the third quarter. Alps Advisors Inc. now owns 573,846 shares of the company’s stock valued at $2,427,000 after acquiring an additional 164,348 shares in the last quarter. Institutional investors and hedge funds own 17.94% of the company’s stock.

Taseko Mines Company Profile

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.