Taseko Mines Limited (NYSE:TGB) Given Average Rating of “Buy” by Brokerages

Taseko Mines Limited (NYSE:TGB) has received an average rating of “Buy” from the four ratings firms that are currently 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 12-month price target among brokers that have issued a report on the stock in the last year is $3.50.

TGB has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Taseko Mines from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. National Bank Financial raised shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a research note on Tuesday.

Taseko Mines Stock Performance

TGB traded up $0.05 on Tuesday, reaching $2.14. The company had a trading volume of 559,026 shares, compared to its average volume of 2,977,174. The company’s fifty day moving average is $2.26 and its 200 day moving average is $2.30. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The stock has a market cap of $651.16 million, a P/E ratio of 11.13 and a beta of 1.72. Taseko Mines has a fifty-two week low of $1.14 and a fifty-two week high of $3.15.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TGB. Quantinno Capital Management LP purchased a new position in shares of Taseko Mines during the 3rd quarter valued at $38,000. SG Americas Securities LLC purchased a new position in Taseko Mines in the 3rd quarter valued at approximately $38,000. Ballentine Partners LLC bought a new stake in shares of Taseko Mines during the 3rd quarter valued at $42,000. Capstone Investment Advisors LLC purchased a new stake in shares of Taseko Mines in the third quarter worth about $56,000. Finally, Signaturefd LLC lifted its stake in Taseko Mines by 21.9% in the 3rd 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. Institutional investors and hedge funds own 17.94% of the company’s stock.

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.