Taseko Mines Ltd (NYSEMKT:TGB) Rating Increased to Hold at Zacks Investment Research
Taseko Mines Ltd (NYSEMKT:TGB) (TSE:TKO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
Separately, ValuEngine upgraded Taseko Mines from a “hold” rating to a “buy” rating in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $0.75.
Shares of Taseko Mines (TGB) traded up 0.72% on Wednesday, reaching $1.40. 261,359 shares of the company’s stock traded hands. Taseko Mines has a 52 week low of $0.41 and a 52 week high of $1.63. The stock’s 50-day moving average price is $1.24 and its 200-day moving average price is $1.26. The stock’s market capitalization is $316.61 million.
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Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in Taseko Mines by 38.8% in the first quarter. Renaissance Technologies LLC now owns 4,354,600 shares of the mining company’s stock worth $5,751,000 after buying an additional 1,216,700 shares in the last quarter. Impala Asset Management LLC boosted its position in Taseko Mines by 220.0% in the first quarter. Impala Asset Management LLC now owns 2,280,000 shares of the mining company’s stock worth $3,010,000 after buying an additional 1,567,500 shares in the last quarter. Acadian Asset Management LLC boosted its position in Taseko Mines by 399.6% in the first quarter. Acadian Asset Management LLC now owns 2,274,194 shares of the mining company’s stock worth $2,998,000 after buying an additional 1,819,034 shares in the last quarter. Norges Bank bought a new position in Taseko Mines during the fourth quarter worth $869,000. Finally, Phoenix Investment Adviser LLC boosted its position in Taseko Mines by 60.5% in the first quarter. Phoenix Investment Adviser LLC now owns 902,004 shares of the mining company’s stock worth $1,191,000 after buying an additional 340,000 shares in the last quarter.
Taseko Mines Company Profile
Taseko Mines Limited is a mining company. The Company is principally 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 projects represent a range of metals, including gold, copper and niobium.
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