Canaccord Genuity Group Forecasts Strong Price Appreciation for Taseko Mines (NYSEAMERICAN:TGB) Stock

Taseko Mines (NYSEAMERICAN:TGB) had its price target boosted by analysts at Canaccord Genuity Group from C$13.50 to C$14.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets restated an “outperform” rating on shares of Taseko Mines in a report on Wednesday, January 14th. Zacks Research cut Taseko Mines from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Finally, TD Securities restated a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.00.

Taseko Mines Trading Down 7.9%

Shares of NYSEAMERICAN:TGB traded down $0.61 during trading on Tuesday, reaching $7.10. 5,122,283 shares of the stock were exchanged, compared to its average volume of 6,831,271. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.92 and a current ratio of 1.50. Taseko Mines has a 12-month low of $1.89 and a 12-month high of $9.25. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -101.41 and a beta of 1.32. The firm’s 50-day moving average price is $7.29 and its 200 day moving average price is $6.12.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Deutsche Bank AG increased its holdings in shares of Taseko Mines by 5.8% during the fourth quarter. Deutsche Bank AG now owns 23,956 shares of the company’s stock valued at $136,000 after purchasing an additional 1,322 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Taseko Mines by 1.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 87,543 shares of the company’s stock worth $495,000 after acquiring an additional 1,642 shares during the period. Prairiewood Capital LLC grew its holdings in Taseko Mines by 14.3% during the fourth quarter. Prairiewood Capital LLC now owns 16,000 shares of the company’s stock worth $91,000 after acquiring an additional 2,000 shares during the period. Parallel Advisors LLC boosted its position in shares of Taseko Mines by 22.6% in the 4th quarter. Parallel Advisors LLC now owns 11,049 shares of the company’s stock valued at $63,000 after purchasing an additional 2,035 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Taseko Mines by 25.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company’s stock valued at $92,000 after purchasing an additional 3,000 shares during the period. 17.94% of the stock is owned by institutional investors and hedge funds.

Taseko Mines Company Profile

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.