Taseko Mines (NYSEAMERICAN:TGB) Upgraded at Zacks Research

Taseko Mines (NYSEAMERICAN:TGB) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

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

Taseko Mines Trading Up 0.6%

TGB opened at $7.81 on Monday. The stock has a market capitalization of $2.86 billion, a PE ratio of 260.42 and a beta of 1.25. Taseko Mines has a one year low of $2.77 and a one year high of $9.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 1.37. The business’s 50 day moving average price is $7.23 and its 200 day moving average price is $6.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. L1 Capital Pty Ltd boosted its position in Taseko Mines by 45.2% in the 4th quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock valued at $201,190,000 after buying an additional 11,066,233 shares during the period. TD Asset Management Inc raised its stake in shares of Taseko Mines by 815.7% in the fourth quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock valued at $20,608,000 after acquiring an additional 3,238,558 shares in the last quarter. Bank of America Corp DE boosted its holdings in Taseko Mines by 215.3% in the first quarter. Bank of America Corp DE now owns 4,577,781 shares of the company’s stock valued at $29,527,000 after purchasing an additional 3,125,829 shares during the period. Montrusco Bolton Investments Inc. acquired a new position in Taseko Mines during the 3rd quarter worth $12,260,000. Finally, Mackenzie Financial Corp increased its holdings in Taseko Mines by 78.6% during the 4th quarter. Mackenzie Financial Corp now owns 6,350,898 shares of the company’s stock worth $35,818,000 after purchasing an additional 2,794,210 shares during the period. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.