Taseko Mines Limited (NYSEAMERICAN:TGB) Stock Has Consensus Target Price of $9.00

Taseko Mines Limited (NYSEAMERICAN:TGB) has received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.00.

Separately, Jefferies Financial Group started coverage on shares of Taseko Mines in a report on Thursday, August 20th. They set a “buy” rating for the company.

Taseko Mines Price Performance

Shares of Taseko Mines stock opened at $8.56 on Friday. 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 business’s 50 day simple moving average is $8.67 and its two-hundred day simple moving average is $7.63. The stock has a market capitalization of $3.14 billion, a P/E ratio of 428.21 and a beta of 1.41. Taseko Mines has a one year low of $3.66 and a one year high of $9.82.

Institutional Investors Weigh In On Taseko Mines

A number of large investors have recently added to or reduced their stakes in TGB. Farther Finance Advisors LLC increased its position in shares of Taseko Mines by 1.2% in the third quarter. Farther Finance Advisors LLC now owns 133,253 shares of the company’s stock valued at $1,187,000 after acquiring an additional 1,579 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in shares of Taseko Mines by 5.5% during the second quarter. TD Waterhouse Canada Inc. now owns 190,808 shares of the company’s stock worth $1,338,000 after purchasing an additional 9,900 shares during the period. Susquehanna Advisors Group Inc. purchased a new stake in shares of Taseko Mines during the second quarter worth about $615,000. Penn Capital Management Company LLC boosted its holdings in shares of Taseko Mines by 25.3% during the second quarter. Penn Capital Management Company LLC now owns 74,474 shares of the company’s stock worth $512,000 after purchasing an additional 15,059 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Taseko Mines by 20.4% in the second quarter. Van ECK Associates Corp now owns 396,290 shares of the company’s stock worth $2,727,000 after purchasing an additional 67,174 shares during the last quarter. 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.