Taseko Mines (NYSE:TGB) Stock Rating Lowered by StockNews.com

Taseko Mines (NYSE:TGB) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Separately, National Bank Financial upgraded shares of Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Taseko Mines has a consensus rating of “Moderate Buy” and an average target price of $3.50.

Taseko Mines Stock Down 8.5 %

Shares of TGB stock traded down $0.19 during mid-day trading on Friday, reaching $2.05. 5,854,013 shares of the company’s stock traded hands, compared to its average volume of 4,548,341. The company’s 50-day moving average price is $2.02 and its 200-day moving average price is $2.15. The company has a market cap of $624.57 million, a P/E ratio of 10.79 and a beta of 1.70. 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 has a 12 month low of $1.46 and a 12 month high of $3.15.

Hedge Funds Weigh In On Taseko Mines

Several institutional investors and hedge funds have recently modified their holdings of TGB. Quantinno Capital Management LP bought a new position in Taseko Mines in the 3rd quarter worth about $38,000. Abacus Wealth Partners LLC bought a new position in shares of Taseko Mines in the fourth quarter worth approximately $29,000. SG Americas Securities LLC bought a new position in shares of Taseko Mines in the third quarter worth approximately $38,000. BIP Wealth LLC purchased a new stake in shares of Taseko Mines during the fourth quarter valued at approximately $30,000. Finally, Ballentine Partners LLC bought a new stake in shares of Taseko Mines during the third quarter valued at approximately $42,000. 17.94% of the stock is currently owned by institutional investors.

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.