Taseko Mines (NYSEAMERICAN:TGB) Price Target Raised to C$14.00

Taseko Mines (NYSEAMERICAN:TGB) had its price objective raised by Canaccord Genuity Group from C$13.50 to C$14.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets restated an “outperform” rating on shares of Taseko Mines in a report on Wednesday, January 14th. TD Securities restated a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Finally, Zacks Research downgraded shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Taseko Mines Price Performance

Shares of TGB opened at $7.16 on Tuesday. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -102.27 and a beta of 1.32. Taseko Mines has a 1-year low of $1.89 and a 1-year high of $9.25. The company’s fifty day simple moving average is $7.23 and its 200 day simple moving average is $6.15. The company has a current ratio of 1.50, a quick ratio of 0.92 and a debt-to-equity ratio of 0.91.

Hedge Funds Weigh In On Taseko Mines

Several institutional investors and hedge funds have recently modified their holdings of TGB. Dynamic Technology Lab Private Ltd acquired a new position in shares of Taseko Mines in the first quarter valued at $65,000. Goldman Sachs Group Inc. increased its holdings in shares of Taseko Mines by 198.9% in the first quarter. Goldman Sachs Group Inc. now owns 988,072 shares of the company’s stock valued at $2,213,000 after purchasing an additional 657,477 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Taseko Mines by 10.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,541,741 shares of the company’s stock valued at $3,454,000 after purchasing an additional 146,154 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Taseko Mines by 19.9% in the first quarter. Focus Partners Wealth now owns 60,200 shares of the company’s stock valued at $135,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Taseko Mines by 8.0% in the second quarter. Geode Capital Management LLC now owns 179,245 shares of the company’s stock valued at $564,000 after purchasing an additional 13,261 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 Ltd. is a Vancouver‐based mining company primarily engaged in the exploration, development and production of copper‐based projects. Its flagship operation is the Gibraltar copper mine in central British Columbia, which ranks among Canada’s largest open pit copper producers. In addition to copper, Gibraltar yields byproducts such as molybdenum and silver, reflecting Taseko’s focus on base and precious metals.

Beyond Gibraltar, Taseko holds two advanced development assets.