Taseko Mines (NYSEAMERICAN:TGB) Earns Buy Rating from Analysts at Jefferies Financial Group

Key Points

• Jefferies Financial Group initiated coverage of Taseko Mines with a “Buy” rating. The stock has an overall “Moderate Buy” consensus rating, with five Buy ratings and one Hold and an average price target of $9.00.
• Taseko Mines shares rose 1.3% to $8.47, trading near their 12-month high of $9.25 and above their 50-day and 200-day moving averages.
• Several hedge funds recently established positions in the company, while institutional investors collectively own 17.94% of Taseko Mines. The company’s primary asset is the Gibraltar copper mine in British Columbia.

Research analysts at Jefferies Financial Group started coverage on shares of Taseko Mines (NYSEAMERICAN:TGB - Get Free Report) in a research report issued to clients and investors on Thursday. The brokerage set a "buy" rating on the stock.

TGB has been the subject of several other reports. Zacks Research raised shares of Taseko Mines from a "strong sell" rating to a "hold" rating in a research note on Monday, June 15th. Cantor Fitzgerald raised Taseko Mines from a "buy" rating to a "buy" rating and set a $9.00 target price on the stock in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $9.00.

Taseko Mines Trading Up 1.3%

NYSEAMERICAN TGB opened at $8.47 on Thursday. Taseko Mines has a 12 month low of $3.01 and a 12 month high of $9.25. The company has a 50-day moving average of $7.37 and a 200-day moving average of $7.32. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.76. The company has a market cap of $3.10 billion, a P/E ratio of 423.71 and a beta of 1.31.

Hedge Funds Weigh In On Taseko Mines

Several hedge funds and other institutional investors have recently made changes to their positions in TGB. Caitong International Asset Management Co. Ltd acquired a new position in shares of Taseko Mines during the fourth quarter worth about $35,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Taseko Mines in the second quarter valued at about $52,000. Marex Group plc purchased a new stake in shares of Taseko Mines during the 4th quarter valued at about $61,000. Brevan Howard Capital Management LP purchased a new stake in shares of Taseko Mines during the 3rd quarter valued at about $61,000. Finally, SIH Partners LLLP acquired a new position in Taseko Mines during the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 17.94% of the company's stock.

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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