Taseko Mines Limited (NYSE:TGB) Receives Consensus Rating of “Buy” from Brokerages

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

TGB has been the subject of a number of recent analyst reports. 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 cut shares of Taseko Mines from a “hold” rating to a “sell” rating in a research report on Friday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TGB. Tidal Investments LLC boosted its stake in shares of Taseko Mines by 82.3% in the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock valued at $34,507,000 after purchasing an additional 6,182,981 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Taseko Mines by 52.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,301,466 shares of the company’s stock valued at $18,095,000 after purchasing an additional 3,217,385 shares during the period. Bank of Montreal Can boosted its stake in shares of Taseko Mines by 296.8% in the third quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after purchasing an additional 2,364,116 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Taseko Mines by 15.6% in the fourth quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company’s stock valued at $12,952,000 after purchasing an additional 900,400 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Taseko Mines by 105.0% in the fourth quarter. Millennium Management LLC now owns 1,174,453 shares of the company’s stock valued at $2,279,000 after purchasing an additional 601,684 shares during the period. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Taseko Mines Price Performance

Shares of TGB opened at $2.05 on Friday. Taseko Mines has a 1-year low of $1.46 and a 1-year high of $3.15. The stock has a market cap of $624.57 million, a PE ratio of -68.33 and a beta of 1.70. The firm has a 50-day simple moving average of $2.02 and a two-hundred day simple moving average of $2.15. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05.

About Taseko Mines

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.