Taseko Mines Limited (NYSE:TGB) Receives Average Rating of “Buy” from Analysts

Shares of Taseko Mines Limited (NYSE:TGB) have been assigned an average rating of “Buy” from the four research firms that are presently covering the company, 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 twelve-month target price among analysts that have issued a report on the stock in the last year is $3.50.

A number of brokerages recently issued reports on TGB. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th. StockNews.com downgraded shares of Taseko Mines from a “hold” rating to a “sell” rating in a report on Friday.

Taseko Mines Stock Performance

Shares of NYSE TGB opened at $2.05 on Friday. The company’s fifty day moving average price is $2.02 and its 200 day moving average price is $2.15. Taseko Mines has a 1 year low of $1.46 and a 1 year high of $3.15. The company has a market capitalization of $624.57 million, a PE ratio of -68.33 and a beta of 1.70. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71.

Hedge Funds Weigh In On Taseko Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its holdings in Taseko Mines by 8.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 94,776 shares of the company’s stock valued at $185,000 after purchasing an additional 6,987 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Taseko Mines by 14.4% in the fourth quarter. Two Sigma Advisers LP now owns 442,900 shares of the company’s stock valued at $859,000 after buying an additional 55,600 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Taseko Mines by 6.3% in the fourth quarter. Two Sigma Investments LP now owns 998,760 shares of the company’s stock valued at $1,938,000 after buying an additional 59,537 shares during the last quarter. Man Group plc acquired a new stake in shares of Taseko Mines in the fourth quarter valued at about $236,000. Finally, Millennium Management LLC raised its position 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 buying an additional 601,684 shares during the last quarter. 17.94% of the stock is 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.