Taseko Mines (NYSEAMERICAN:TGB) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Taseko Mines (NYSEAMERICAN:TGB) from a strong sell rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on TGB. TD Securities restated a “buy” rating on shares of Taseko Mines in a research report on Monday, February 23rd. Cantor Fitzgerald upgraded Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group boosted their target price on Taseko Mines from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Taseko Mines Trading Up 0.6%

TGB stock opened at $7.81 on Monday. The company has a market cap of $2.86 billion, a P/E ratio of 260.42 and a beta of 1.25. Taseko Mines has a twelve month low of $2.77 and a twelve month high of $9.25. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $7.23 and a 200-day moving average of $6.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in Taseko Mines in the fourth quarter valued at about $35,000. Ausdal Financial Partners Inc. acquired a new position in Taseko Mines in the second quarter valued at about $52,000. Swiss Life Asset Management Ltd acquired a new position in Taseko Mines in the third quarter valued at about $61,000. Marex Group plc acquired a new position in shares of Taseko Mines during the fourth quarter worth about $61,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Taseko Mines during the third quarter worth about $61,000. 17.94% of the stock is owned by institutional investors and hedge funds.

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.