Taseko Mines Limited (NYSE:TGB) Given Average Rating of “Buy” by Analysts

Taseko Mines Limited (NYSE:TGB) has been assigned an average rating of “Buy” from the four brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $3.50.

A number of analysts have issued reports on TGB shares. StockNews.com upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a report on Wednesday, December 11th. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th.

Taseko Mines Stock Performance

NYSE TGB opened at $2.00 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. Taseko Mines has a twelve month low of $1.27 and a twelve month high of $3.15. The business has a 50-day moving average price of $2.08 and a 200-day moving average price of $2.23. The firm has a market cap of $609.08 million, a price-to-earnings ratio of 10.53 and a beta of 1.72.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TGB. Tidal Investments LLC raised its position in Taseko Mines by 82.3% during the third 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 period. Bank of Montreal Can lifted its position in Taseko Mines by 296.8% in the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock worth $8,225,000 after buying an additional 2,364,116 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Taseko Mines by 14.7% during the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock worth $14,465,000 after buying an additional 755,192 shares during the period. American Century Companies Inc. increased its position in Taseko Mines by 752.2% during the second quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock valued at $1,734,000 after acquiring an additional 621,352 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Taseko Mines in the second quarter valued at $1,192,000. Institutional investors own 17.94% of the company’s stock.

Taseko Mines Company Profile

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.