Taseko Mines (TGB) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) from a sell rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Taseko Mines is focused on acquiring ownership of and advancing exploration and related activities on known mineral deposits that have as their basic characteristic, large tonnage (based on extensive drill testing for continuity) mineralization which, under metals price assumptions that fall within historical averages, are potentially capable of supporting a mine for 10 years and longer. “
A number of other research firms also recently commented on TGB. TheStreet downgraded Taseko Mines from a c- rating to a d rating in a report on Friday, August 31st. TD Securities upgraded Taseko Mines from a hold rating to a buy rating in a report on Wednesday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $2.50.
Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last posted its quarterly earnings results on Tuesday, August 7th. The mining company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $73.06 million for the quarter. Taseko Mines had a negative return on equity of 8.19% and a negative net margin of 7.97%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in Taseko Mines by 58.8% during the 1st quarter. Millennium Management LLC now owns 261,764 shares of the mining company’s stock worth $301,000 after buying an additional 96,892 shares during the last quarter. CIBC World Markets Inc. grew its stake in Taseko Mines by 333.0% during the 1st quarter. CIBC World Markets Inc. now owns 295,270 shares of the mining company’s stock worth $340,000 after buying an additional 227,085 shares during the last quarter. Barclays PLC purchased a new position in Taseko Mines during the 1st quarter worth approximately $144,000. Global X Management Co. LLC grew its stake in Taseko Mines by 14.1% during the 1st quarter. Global X Management Co. LLC now owns 411,614 shares of the mining company’s stock worth $485,000 after buying an additional 50,928 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Taseko Mines during the 2nd quarter worth approximately $230,000.
Taseko Mines Company Profile
Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.
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