Brokerages Set Taseko Mines Limited (NYSE:TGB) PT at $3.50

Taseko Mines Limited (NYSE:TGB) has been given an average rating of “Buy” by the four brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $3.50.

TGB has been the subject of several research reports. StockNews.com raised shares of Taseko Mines from a “sell” rating to a “hold” rating in a research report on Wednesday. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday.

Hedge Funds Weigh In On Taseko Mines

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Taseko Mines in the third quarter valued at about $38,000. Quantinno Capital Management LP bought a new position in Taseko Mines in the third quarter valued at approximately $38,000. Ballentine Partners LLC acquired a new position in shares of Taseko Mines during the 3rd quarter worth approximately $42,000. Capstone Investment Advisors LLC bought a new stake in shares of Taseko Mines during the 3rd quarter worth approximately $56,000. Finally, Signaturefd LLC boosted its holdings in shares of Taseko Mines by 21.9% in the 3rd quarter. Signaturefd LLC now owns 46,808 shares of the company’s stock valued at $118,000 after buying an additional 8,397 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Stock Performance

TGB stock opened at $2.09 on Tuesday. Taseko Mines has a 1-year low of $1.14 and a 1-year high of $3.15. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The firm has a market cap of $634.93 million, a PE ratio of 10.97 and a beta of 1.72. The business’s 50-day moving average price is $2.23 and its two-hundred day moving average price is $2.29.

Taseko Mines (NYSE:TGB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. The business had revenue of $114.08 million during the quarter, compared to analyst estimates of $112.48 million. As a group, research analysts forecast that Taseko Mines will post 0.16 earnings per share for the current year.

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.