Taseko Mines Limited (NYSE:TGB) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Taseko Mines Limited (NYSE:TGB) have been given an average rating of “Buy” by the four brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $3.50.

Several research firms recently issued reports on TGB. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. StockNews.com upgraded Taseko Mines from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC increased its position in shares of Taseko Mines by 82.3% in the 3rd quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock valued at $34,507,000 after purchasing an additional 6,182,981 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Taseko Mines by 296.8% during the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after purchasing an additional 2,364,116 shares during the period. Renaissance Technologies LLC boosted its holdings in Taseko Mines by 14.7% in the 2nd quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock valued at $14,465,000 after purchasing an additional 755,192 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Taseko Mines by 752.2% during the 2nd quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock worth $1,734,000 after purchasing an additional 621,352 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Taseko Mines in the 2nd quarter worth approximately $1,192,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Taseko Mines Trading Down 2.9 %

Shares of TGB opened at $2.02 on Tuesday. The company has a 50-day moving average of $2.21 and a 200 day moving average of $2.27. The firm has a market capitalization of $615.13 million, a price-to-earnings ratio of 10.63 and a beta of 1.72. Taseko Mines has a 1-year low of $1.27 and a 1-year high of $3.15. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05.

Taseko Mines (NYSE:TGB) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $114.08 million for the quarter, compared to the consensus estimate of $112.48 million. Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. On average, research analysts expect that Taseko Mines will post 0.14 EPS for the current year.

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 100% 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.