Stifel Nicolaus Initiates Coverage on Taseko Mines (NYSE:TGB)

Equities research analysts at Stifel Nicolaus assumed coverage on shares of Taseko Mines (NYSE:TGB) in a report issued on Tuesday, StockNewsAPI reports. The brokerage set a “buy” rating on the stock.

Separately, TheStreet raised shares of Taseko Mines from a “d” rating to a “c” rating in a report on Thursday, March 14th.

Taseko Mines Price Performance

Shares of NYSE:TGB opened at $2.21 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.77 and a quick ratio of 0.90. Taseko Mines has a 1-year low of $1.05 and a 1-year high of $2.25. The company has a market capitalization of $640.51 million, a P/E ratio of 11.03 and a beta of 1.94. The firm’s 50 day simple moving average is $1.60 and its two-hundred day simple moving average is $1.39.

Taseko Mines (NYSE:TGB) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Taseko Mines had a net margin of 15.66% and a return on equity of 11.54%. The firm had revenue of $112.90 million for the quarter. Research analysts expect that Taseko Mines will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TGB. JPMorgan Chase & Co. grew its holdings in shares of Taseko Mines by 10.0% in the first quarter. JPMorgan Chase & Co. now owns 376,136 shares of the company’s stock worth $861,000 after purchasing an additional 34,100 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Taseko Mines by 305.3% in the first quarter. American Century Companies Inc. now owns 309,635 shares of the company’s stock worth $713,000 after purchasing an additional 233,235 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Taseko Mines by 148.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,450 shares of the company’s stock worth $83,000 after purchasing an additional 21,790 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Taseko Mines by 14.9% in the first quarter. HighTower Advisors LLC now owns 77,196 shares of the company’s stock worth $176,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Taseko Mines by 663.0% in the first quarter. Bank of Montreal Can now owns 819,644 shares of the company’s stock worth $1,836,000 after purchasing an additional 712,220 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 87.5% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.