Taseko Mines Limited (NYSEAMERICAN:TGB) Receives $7.00 Consensus Price Target from Analysts

Taseko Mines Limited (NYSEAMERICAN:TGB) has received an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.00.

Several research analysts have weighed in on TGB shares. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research note on Wednesday, January 14th. Cantor Fitzgerald upgraded Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Thursday, May 7th. Canaccord Genuity Group lifted their target price on Taseko Mines from C$13.50 to C$14.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Zacks Research downgraded Taseko Mines from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th.

Institutional Trading of Taseko Mines

A number of institutional investors have recently modified their holdings of the business. L1 Capital Pty Ltd boosted its stake in shares of Taseko Mines by 45.2% in the fourth quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock valued at $201,190,000 after buying an additional 11,066,233 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Taseko Mines by 11.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,126,773 shares of the company’s stock valued at $34,376,000 after buying an additional 854,016 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Taseko Mines by 78.6% in the fourth quarter. Mackenzie Financial Corp now owns 6,350,898 shares of the company’s stock valued at $35,818,000 after buying an additional 2,794,210 shares in the last quarter. Mudita Advisors LLP boosted its stake in shares of Taseko Mines by 57.4% in the fourth quarter. Mudita Advisors LLP now owns 4,388,401 shares of the company’s stock valued at $24,838,000 after buying an additional 1,600,000 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake 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 in the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Taseko Mines Trading Down 1.8%

TGB opened at $7.79 on Thursday. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 259.75 and a beta of 1.26. Taseko Mines has a 52 week low of $1.96 and a 52 week high of $9.25. The business’s 50 day moving average is $7.02 and its two-hundred day moving average is $6.45. The company has a quick ratio of 0.92, a current ratio of 1.37 and a debt-to-equity ratio of 0.88.

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.