Taseko Mines Limited (NYSEAMERICAN:TGB) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Taseko Mines Limited (NYSEAMERICAN:TGB) has received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $9.00.

Separately, Jefferies Financial Group initiated coverage on Taseko Mines in a research report on Thursday, August 20th. They set a “buy” rating on the stock.

Taseko Mines Stock Performance

Shares of TGB opened at $8.09 on Friday. The company has a 50-day simple moving average of $8.66 and a two-hundred day simple moving average of $7.66. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.76. The firm has a market capitalization of $2.97 billion, a PE ratio of 404.70 and a beta of 1.41. Taseko Mines has a one year low of $3.66 and a one year high of $9.82.

Hedge Funds Weigh In On Taseko Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGB. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Taseko Mines in the 4th quarter worth about $51,000. CHICAGO TRUST Co NA purchased a new position in Taseko Mines during the 1st quarter valued at about $67,000. First United Bank & Trust purchased a new position in Taseko Mines during the 1st quarter valued at about $79,000. FNY Investment Advisers LLC bought a new stake in Taseko Mines during the second quarter worth about $165,000. Finally, Rehmann Capital Advisory Group bought a new stake in Taseko Mines during the fourth quarter worth about $283,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

About Taseko Mines

Taseko Mines Limited is a Canadian mining company engaged in the acquisition, development, and operation of copper and other mineral properties. The company is headquartered in Vancouver, British Columbia, and its shares trade on the Toronto Stock Exchange under the symbol TKO and on the NYSE American under the symbol TGB.

Taseko’s principal asset is the Gibraltar Mine in central British Columbia, one of Canada’s largest open-pit copper and molybdenum mines. The operation produces copper concentrate, with molybdenum as a byproduct, and has been in production since the 1970s.