Taseko Mines Ltd (TGB) Rating Lowered to Sell at Zacks Investment Research
Taseko Mines Ltd (NYSE:TGB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
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. “
Separately, Scotiabank restated a “sector perform” rating and set a $0.80 target price on shares of Taseko Mines in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $0.78.
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Taseko Mines (NYSE:TGB) opened at 0.43 on Tuesday. Taseko Mines has a 12-month low of $0.23 and a 12-month high of $0.70. The stock’s market capitalization is $95.39 million. The stock’s 50 day moving average is $0.46 and its 200 day moving average is $0.52.
Taseko Mines (NYSE:TGB) last announced its earnings results on Tuesday, July 26th. The mining company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.02. The firm had revenue of $55.01 million for the quarter, compared to analysts’ expectations of $62 million. The company’s quarterly revenue was down 40.6% on a year-over-year basis. During the same quarter last year, the company earned $0.01 EPS. Equities analysts predict that Taseko Mines will post ($0.21) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Taseko Mines stock. Renaissance Technologies LLC increased its position in Taseko Mines Ltd (NYSE:TGB) by 21.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,067,900 shares of the mining company’s stock after buying an additional 358,700 shares during the period. Renaissance Technologies LLC owned approximately 0.93% of Taseko Mines worth $1,166,000 as of its most recent filing with the SEC.
Taseko Mines Company Profile
Taseko Mines Limited is a mining company. The Company is engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada and the State of Arizona, the United States. Its operating asset is the Gibraltar Mine, a copper mine located in central British Columbia.
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