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

Shares of Taseko Mines Limited (NYSE:TGB) have received a consensus recommendation of “Buy” from the four ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $3.50.

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

Taseko Mines Price Performance

Shares of Taseko Mines stock opened at $2.08 on Tuesday. The business’s fifty day moving average price is $2.22 and its 200 day moving average price is $2.28. Taseko Mines has a twelve month low of $1.25 and a twelve month 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 stock has a market capitalization of $633.41 million, a P/E ratio of 10.95 and a beta of 1.72.

Taseko Mines (NYSE:TGB) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Taseko Mines had a return on equity of 15.25% and a net margin of 12.69%. The firm had revenue of $114.08 million during the quarter, compared to analysts’ expectations of $112.48 million. As a group, research analysts anticipate that Taseko Mines will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Taseko Mines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC grew its holdings in Taseko Mines by 82.3% during the 3rd 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 in the last quarter. Barclays PLC grew its stake in shares of Taseko Mines by 353.3% during the third quarter. Barclays PLC now owns 79,323 shares of the company’s stock valued at $200,000 after acquiring an additional 61,823 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Taseko Mines by 2,033.2% during the third quarter. Toronto Dominion Bank now owns 52,242 shares of the company’s stock valued at $132,000 after acquiring an additional 49,793 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Taseko Mines during the third quarter worth about $223,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Taseko Mines in the third quarter worth about $38,000. 17.94% of the stock is owned by institutional investors and hedge funds.

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.