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

Taseko Mines Limited (NYSE:TGB) has been assigned an average recommendation of “Buy” from the four brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $3.50.

Several equities research analysts recently issued reports on TGB shares. StockNews.com raised shares of Taseko Mines from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. National Bank Financial raised Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Dakota Wealth Management increased its position in shares of Taseko Mines by 1.5% during the third quarter. Dakota Wealth Management now owns 457,939 shares of the company’s stock valued at $1,154,000 after purchasing an additional 6,973 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of Taseko Mines by 7.3% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 103,682 shares of the company’s stock valued at $261,000 after acquiring an additional 7,070 shares during the last quarter. Signaturefd LLC boosted its position in shares of Taseko Mines by 21.9% during the third quarter. Signaturefd LLC now owns 46,808 shares of the company’s stock worth $118,000 after purchasing an additional 8,397 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of Taseko Mines during the 3rd quarter worth approximately $38,000. Finally, Abacus Wealth Partners LLC bought a new stake in Taseko Mines in the 4th quarter valued at $29,000. 17.94% of the stock is owned by institutional investors.

Taseko Mines Stock Performance

Taseko Mines stock opened at $1.86 on Wednesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The company has a market cap of $566.70 million, a P/E ratio of 9.79 and a beta of 1.72. Taseko Mines has a fifty-two week low of $1.33 and a fifty-two week high of $3.15. The firm’s 50 day simple moving average is $2.01 and its 200-day simple moving average is $2.16.

Taseko Mines (NYSE:TGB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $114.08 million for the quarter, compared to analysts’ expectations of $112.48 million. Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. As a group, equities research analysts predict that Taseko Mines will post 0.13 EPS 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.