Taseko Mines Ltd (TGB) Stock Rating Lowered by BidaskClub
Taseko Mines Ltd (NYSEMKT:TGB) (TSE:TKO) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Taseko Mines from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a report on Wednesday, August 23rd. TheStreet raised Taseko Mines from a “d+” rating to a “c-” rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.50.
Taseko Mines (TGB) opened at 2.06 on Friday. The stock’s 50 day moving average price is $2.05 and its 200-day moving average price is $1.53. Taseko Mines has a 12 month low of $0.43 and a 12 month high of $2.46. The stock has a market cap of $466.03 million and a PE ratio of 50.24.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in Taseko Mines by 33.0% during the second quarter. Royal Bank of Canada now owns 430,791 shares of the mining company’s stock valued at $546,000 after purchasing an additional 106,879 shares in the last quarter. QS Investors LLC purchased a new position in Taseko Mines during the second quarter valued at $142,000. Hillsdale Investment Management Inc. purchased a new position in Taseko Mines during the second quarter valued at $1,026,000. Impala Asset Management LLC lifted its position in Taseko Mines by 26.5% during the second quarter. Impala Asset Management LLC now owns 2,883,264 shares of the mining company’s stock valued at $3,662,000 after purchasing an additional 603,264 shares in the last quarter. Finally, AJO LP purchased a new position in Taseko Mines during the second quarter valued at $1,087,000.
About Taseko Mines
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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