Taseko Mines (NYSEAMERICAN:TGB) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Taseko Mines (NYSEAMERICAN:TGB) from a "hold" to a strong sell rating in a report issued Thursday.
• Other analysts remain split—BMO and TD still rate the stock "outperform"/"buy"—and the consensus across analysts is a "Hold" with an average price target of $5.00.
• The stock opened at $7.73 with a $2.82 billion market cap and a 52‑week range of $1.89–$9.25, while institutional investors own about 17.94% and several funds recently increased their positions.

Taseko Mines (NYSEAMERICAN:TGB - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Thursday,Zacks.com reports.

Other analysts also recently issued reports about the company. BMO Capital Markets restated an "outperform" rating on shares of Taseko Mines in a research report on Wednesday, January 14th. TD Securities reiterated a "buy" rating on shares of Taseko Mines in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $5.00.

Taseko Mines Stock Up 1.4%

Shares of TGB opened at $7.73 on Thursday. The company has a market cap of $2.82 billion, a PE ratio of -110.41 and a beta of 1.32. The business has a fifty day moving average of $7.30 and a 200 day moving average of $6.07. Taseko Mines has a 52-week low of $1.89 and a 52-week high of $9.25. The company has a quick ratio of 0.92, a current ratio of 1.50 and a debt-to-equity ratio of 0.91.

Institutional Trading of Taseko Mines

Several institutional investors and hedge funds have recently made changes to their positions in the company. Intact Investment Management Inc. grew its stake in shares of Taseko Mines by 17.8% during the third quarter. Intact Investment Management Inc. now owns 1,035,500 shares of the company's stock worth $4,390,000 after acquiring an additional 156,200 shares during the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in shares of Taseko Mines during the third quarter worth about $12,260,000. PCJ Investment Counsel Ltd. purchased a new stake in shares of Taseko Mines during the third quarter worth about $3,080,000. Mudita Advisors LLP grew its stake in shares of Taseko Mines by 75.4% during the third quarter. Mudita Advisors LLP now owns 2,788,401 shares of the company's stock worth $11,795,000 after acquiring an additional 1,198,700 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in shares of Taseko Mines by 40.1% during the third quarter. Alps Advisors Inc. now owns 573,846 shares of the company's stock worth $2,427,000 after acquiring an additional 164,348 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors.

Taseko Mines Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.