Taseko Mines Ltd (TGB) Upgraded to “Buy” by Zacks Investment Research
Taseko Mines Ltd (NYSEMKT:TGB) (TSE:TKO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $1.75 target price on the mining company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 16.67% from the stock’s previous close.
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 shares of Taseko Mines from a “hold” rating to a “buy” rating in a report on Friday, June 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Taseko Mines currently has a consensus rating of “Hold” and an average price target of $1.13.
Taseko Mines (NYSEMKT TGB) opened at 1.50 on Thursday. Taseko Mines has a one year low of $0.41 and a one year high of $1.63. The company’s market cap is $339.22 million. The company has a 50 day moving average of $1.26 and a 200-day moving average of $1.28.
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Several institutional investors have recently modified their holdings of TGB. Norges Bank acquired a new stake in Taseko Mines during the fourth quarter worth about $869,000. Renaissance Technologies LLC raised its stake in Taseko Mines by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 3,137,900 shares of the mining company’s stock worth $2,675,000 after buying an additional 490,700 shares during the period. Russell Investments Group Ltd. acquired a new stake in Taseko Mines during the first quarter worth about $208,000. CIBC World Markets Inc. raised its stake in Taseko Mines by 23.3% in the first quarter. CIBC World Markets Inc. now owns 299,009 shares of the mining company’s stock worth $395,000 after buying an additional 56,530 shares during the period. Finally, Acadian Asset Management LLC raised its stake 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 during the period.
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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