Taseko Mines (NYSEAMERICAN:TGB) Stock Price Up 6.1% on Analyst Upgrade


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Shares of Taseko Mines Limited (NYSEAMERICAN:TGB) (TSE:TKO) shot up 6.1% during trading on Tuesday after TD Securities raised their price target on the stock from $1.90 to $2.00. TD Securities currently has a buy rating on the stock. Taseko Mines traded as high as $1.39 and last traded at $1.39. 1,265,638 shares traded hands during trading, a decline of 46% from the average session volume of 2,362,148 shares. The stock had previously closed at $1.31.

TGB has been the topic of a number of other research reports. BidaskClub raised shares of Taseko Mines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 8th. BMO Capital Markets cut their target price on shares of Taseko Mines from $1.70 to $1.60 and set an “outperform” rating on the stock in a report on Wednesday, November 18th. Zacks Investment Research raised shares of Taseko Mines from a “sell” rating to a “hold” rating in a report on Tuesday, December 22nd. Finally, Scotiabank raised shares of Taseko Mines from an “underperform” rating to a “sector perform” rating in a report on Monday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1.54.

A number of institutional investors and hedge funds have recently made changes to their positions in TGB. Jane Street Group LLC bought a new position in Taseko Mines in the 3rd quarter worth $29,000. Capital Advisors Inc. OK raised its holdings in Taseko Mines by 88.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 63,900 shares of the mining company’s stock worth $53,000 after acquiring an additional 30,000 shares during the period. JPMorgan Chase & Co. raised its holdings in Taseko Mines by 249.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 73,096 shares of the mining company’s stock worth $75,000 after acquiring an additional 52,200 shares during the period. Virtu Financial LLC raised its holdings in Taseko Mines by 31.7% in the 3rd quarter. Virtu Financial LLC now owns 155,097 shares of the mining company’s stock worth $164,000 after acquiring an additional 37,291 shares during the period. Finally, Morgan Stanley raised its holdings in Taseko Mines by 35.7% in the 3rd quarter. Morgan Stanley now owns 213,503 shares of the mining company’s stock worth $225,000 after acquiring an additional 56,214 shares during the period.

The firm’s fifty day moving average is $1.26 and its 200 day moving average is $1.07.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last posted its quarterly earnings data on Monday, October 26th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $65.88 million for the quarter.

About Taseko Mines (NYSEAMERICAN:TGB)

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds 75% interest in the Gibraltar mine located in British Columbia. The company also holds 100% interest in Yellowhead copper project, the Aley niobium project, the Harmony Gold Project, and the New Prosperity gold and copper project situated in British Columbia; and the Florence copper project located in Arizona.

Further Reading: Net Asset Value

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