Taseko Mines (NYSE:TGB) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Taseko Mines (NYSE:TGB) from a hold rating to a sell rating in a report released on Friday morning.

Separately, National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3.50.

Taseko Mines Stock Performance

Shares of TGB opened at $2.05 on Friday. The stock has a 50 day moving average of $2.02 and a 200 day moving average of $2.15. The company has a market capitalization of $624.58 million, a price-to-earnings ratio of 10.79 and a beta of 1.70. Taseko Mines has a 12 month low of $1.46 and a 12 month high of $3.15. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Abacus Wealth Partners LLC bought a new position in Taseko Mines in the 4th quarter worth about $29,000. BIP Wealth LLC purchased a new position in shares of Taseko Mines during the fourth quarter worth about $30,000. Cadence Bank bought a new position in shares of Taseko Mines in the fourth quarter worth approximately $32,000. Lido Advisors LLC purchased a new stake in Taseko Mines in the fourth quarter valued at approximately $37,000. Finally, Quantinno Capital Management LP purchased a new stake in Taseko Mines in the third quarter valued at approximately $38,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

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.