Taseko Mines Limited (NYSEAMERICAN:TGB) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Taseko Mines has a “Moderate Buy” consensus rating from six analysts, with five recommending buy and one recommending hold. The average 12-month price target is $9.00, above the reported share price of $8.39.
• Institutional ownership stands at 17.94%, with Goldman Sachs nearly tripling its stake and UBS Asset Management increasing its position during the first quarter.
• TGB shares have risen significantly from their 52-week low of $3.07 and are trading near the upper end of their $3.07–$9.25 range, with the company valued at approximately $3.07 billion.

Shares of Taseko Mines Limited (NYSEAMERICAN:TGB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $9.00.

TGB has been the subject of a number of research analyst reports. Cantor Fitzgerald raised shares of Taseko Mines from a "buy" rating to a "buy" rating and set a $9.00 price objective for the company in a research report on Thursday, May 7th. Zacks Research upgraded Taseko Mines from a "strong sell" rating to a "hold" rating in a research note on Monday, June 15th. Finally, Jefferies Financial Group assumed coverage on Taseko Mines in a research report on Thursday. They set a "buy" rating for the company.

Institutional Trading of Taseko Mines

Institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Taseko Mines in the 1st quarter valued at $65,000. Goldman Sachs Group Inc. boosted its stake in Taseko Mines by 198.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,072 shares of the company's stock worth $2,213,000 after purchasing an additional 657,477 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Taseko Mines by 10.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,541,741 shares of the company's stock worth $3,454,000 after purchasing an additional 146,154 shares during the last quarter. Focus Partners Wealth grew its position in Taseko Mines by 19.9% during the 1st quarter. Focus Partners Wealth now owns 60,200 shares of the company's stock worth $135,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Taseko Mines by 8.0% in the second quarter. Geode Capital Management LLC now owns 179,245 shares of the company's stock valued at $564,000 after purchasing an additional 13,261 shares during the period. 17.94% of the stock is owned by hedge funds and other institutional investors.

Taseko Mines Price Performance

NYSEAMERICAN:TGB traded down $0.07 during trading hours on Thursday, hitting $8.39. 309,099 shares of the stock were exchanged, compared to its average volume of 6,022,940. The firm's fifty day moving average price is $7.37 and its 200 day moving average price is $7.32. Taseko Mines has a 52-week low of $3.07 and a 52-week high of $9.25. The company has a market cap of $3.07 billion, a P/E ratio of 417.96 and a beta of 1.31. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.85.

About Taseko Mines

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.

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