Taseko Mines (NYSE:TGB) Raised to “Hold” at StockNews.com

Taseko Mines (NYSE:TGB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Separately, National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Taseko Mines has an average rating of “Buy” and an average price target of $3.50.

Taseko Mines Price Performance

Shares of NYSE TGB opened at $2.09 on Wednesday. Taseko Mines has a twelve month low of $1.14 and a twelve month high of $3.15. The firm has a fifty day simple moving average of $2.23 and a 200 day simple moving average of $2.29. The company has a market capitalization of $634.93 million, a PE ratio of 10.97 and a beta of 1.72. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

Taseko Mines (NYSE:TGB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share 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 company had revenue of $114.08 million during the quarter, compared to the consensus estimate of $112.48 million. On average, sell-side analysts forecast that Taseko Mines will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TGB. ClariVest Asset Management LLC acquired a new position in shares of Taseko Mines during the second quarter valued at about $1,192,000. American Century Companies Inc. grew its holdings in shares of Taseko Mines by 752.2% during the second quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock valued at $1,734,000 after buying an additional 621,352 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Taseko Mines by 87.9% during the second quarter. Dimensional Fund Advisors LP now owns 491,388 shares of the company’s stock valued at $1,204,000 after buying an additional 229,849 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Taseko Mines by 14.7% during the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock valued at $14,465,000 after buying an additional 755,192 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in Taseko Mines by 990.3% during the second quarter. XTX Topco Ltd now owns 164,510 shares of the company’s stock worth $403,000 after purchasing an additional 149,421 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

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.