Taseko Mines Limited (NYSEAMERICAN:TGB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Taseko Mines Limited (NYSEAMERICAN:TGB) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $9.00.

Several research analysts have recently weighed in on the company. Zacks Research raised Taseko Mines from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Jefferies Financial Group initiated coverage on shares of Taseko Mines in a research report on Thursday, August 20th. They issued a “buy” rating on the stock.

Taseko Mines Price Performance

TGB opened at $8.64 on Monday. Taseko Mines has a fifty-two week low of $3.66 and a fifty-two week high of $9.82. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.76 and a current ratio of 1.24. The company has a fifty day moving average of $8.12 and a two-hundred day moving average of $7.40. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 432.22 and a beta of 1.35.

Institutional Trading of Taseko Mines

A number of institutional investors have recently made changes to their positions in the company. L1 Capital Pty Ltd lifted its holdings 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 purchasing an additional 11,066,233 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Taseko Mines by 4.9% during the first quarter. Renaissance Technologies LLC now owns 5,682,070 shares of the company’s stock worth $36,649,000 after buying an additional 267,640 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Taseko Mines by 215.3% during the first quarter. Bank of America Corp DE now owns 4,577,781 shares of the company’s stock worth $29,527,000 after buying an additional 3,125,829 shares in the last quarter. TD Asset Management Inc raised its position 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 buying an additional 3,238,558 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. raised its position in shares of Taseko Mines by 23.5% in the first quarter. Montrusco Bolton Investments Inc. now owns 3,031,296 shares of the company’s stock valued at $19,571,000 after buying an additional 576,637 shares during the last quarter. 17.94% of the stock is owned by institutional investors and hedge funds.

Taseko Mines Company Profile

Taseko Mines Limited is a Canadian mining company focused primarily on the acquisition, development and operation of copper and molybdenum assets. The company’s principal operating asset is the Gibraltar Mine in central British Columbia, which it describes as one of Canada’s largest copper-molybdenum mines. Gibraltar produces copper concentrate and molybdenum concentrate for sale to customers and markets.

Taseko also owns and is advancing the Florence Copper project in Arizona. The project is designed to use an in-situ copper recovery process to produce copper cathodes, allowing copper to be extracted from ore without conventional open-pit mining.