Taseko Mines (TGB) Upgraded to Buy by Zacks Investment Research

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Zacks Investment Research upgraded shares of Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) from a sell rating to a buy rating in a report published on Wednesday. They currently have $0.75 price objective on the mining company’s stock.

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. “

TGB has been the subject of several other reports. TD Securities upgraded Taseko Mines from a hold rating to a buy rating in a report on Wednesday, August 8th. TheStreet lowered Taseko Mines from a c- rating to a d rating in a report on Friday, August 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $0.75.

Shares of Taseko Mines stock opened at $0.71 on Wednesday. Taseko Mines has a 52-week low of $0.68 and a 52-week high of $2.46.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last announced its quarterly earnings results on Tuesday, August 7th. The mining company reported $0.01 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The business had revenue of $73.06 million during the quarter. Taseko Mines had a negative return on equity of 8.19% and a negative net margin of 7.97%.

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its stake in shares of Taseko Mines by 136.7% in the 4th quarter. Millennium Management LLC now owns 164,872 shares of the mining company’s stock valued at $384,000 after acquiring an additional 95,232 shares in the last quarter. Barclays PLC bought a new position in shares of Taseko Mines in the 1st quarter valued at approximately $144,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Taseko Mines in the 2nd quarter valued at approximately $230,000. Finally, CIBC World Markets Inc. raised its stake in shares of Taseko Mines by 333.0% in the 1st quarter. CIBC World Markets Inc. now owns 295,270 shares of the mining company’s stock valued at $340,000 after acquiring an additional 227,085 shares in the last quarter.

Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.

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