Taseko Mines Limited (NYSE:TGB) Given Consensus Recommendation of “Buy” by Brokerages

Taseko Mines Limited (NYSE:TGB) has earned an average recommendation of “Buy” from the four brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3.50.

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

Institutional Trading of Taseko Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Taseko Mines during the third quarter valued at about $38,000. Quantinno Capital Management LP purchased a new position in shares of Taseko Mines during the 3rd quarter worth approximately $38,000. Ballentine Partners LLC purchased a new position in shares of Taseko Mines during the 3rd quarter worth approximately $42,000. Capstone Investment Advisors LLC acquired a new stake in Taseko Mines in the 3rd quarter valued at approximately $56,000. Finally, Signaturefd LLC raised its position in Taseko Mines by 21.9% in the third quarter. Signaturefd LLC now owns 46,808 shares of the company’s stock valued at $118,000 after purchasing an additional 8,397 shares during the period. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Taseko Mines Trading Up 3.9 %

Shares of Taseko Mines stock opened at $2.13 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $2.07 and its 200-day simple moving average is $2.22. The stock has a market cap of $648.67 million, a P/E ratio of 11.21 and a beta of 1.72. Taseko Mines has a 1-year low of $1.27 and a 1-year high of $3.15.

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

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.