TD Securities Reiterates Hold Rating for Taseko Mines (NYSE:TGB)

Taseko Mines (NYSE:TGB - Get Free Report)'s stock had its "hold" rating reiterated by equities research analysts at TD Securities in a report issued on Wednesday,Benzinga reports. They presently have a $5.00 price objective on the stock, up from their prior price objective of $3.50. TD Securities' price target indicates a potential upside of 56.99% from the company's current price.

Separately, Wall Street Zen downgraded shares of Taseko Mines from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th.

Taseko Mines Stock Down 3.2%

Shares of NYSE:TGB traded down $0.11 during trading on Wednesday, hitting $3.19. The stock had a trading volume of 1,603,945 shares, compared to its average volume of 7,439,512. The company has a market capitalization of $1.01 billion, a PE ratio of -106.17 and a beta of 1.42. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The firm's fifty day moving average is $2.74 and its 200 day moving average is $2.32. Taseko Mines has a 12 month low of $1.67 and a 12 month high of $3.68.

Hedge Funds Weigh In On Taseko Mines

Hedge funds have recently added to or reduced their stakes in the company. BIP Wealth LLC purchased a new position in shares of Taseko Mines during the fourth quarter valued at approximately $30,000. Cadence Bank purchased a new position in shares of Taseko Mines in the 4th quarter worth $32,000. Lido Advisors LLC purchased a new position in shares of Taseko Mines in the 4th quarter worth $37,000. Deutsche Bank AG grew its holdings in shares of Taseko Mines by 88.2% in the fourth quarter. Deutsche Bank AG now owns 19,857 shares of the company's stock worth $39,000 after acquiring an additional 9,308 shares during the period. Finally, Oxford Asset Management LLP purchased a new stake in Taseko Mines during the fourth quarter valued at $45,000. 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.