Zacks Investment Research lowered shares of Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) from a buy rating to a hold rating in a report issued on Wednesday, December 20th.
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. “
A number of other analysts have also issued reports on TGB. BidaskClub downgraded shares of Taseko Mines from a strong-buy rating to a buy rating in a report on Saturday, September 16th. TheStreet raised shares of Taseko Mines from a d+ rating to a c- rating in a report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $2.50.
Taseko Mines (TGB) traded down $0.01 during midday trading on Wednesday, reaching $2.04. 421,252 shares of the company traded hands, compared to its average volume of 1,488,789. Taseko Mines has a 52-week low of $1.00 and a 52-week high of $2.46. The stock has a market capitalization of $477.09, a price-to-earnings ratio of 12.00 and a beta of 2.75.
A number of institutional investors have recently modified their holdings of the business. QS Investors LLC acquired a new stake in Taseko Mines during the 2nd quarter worth about $142,000. Stifel Financial Corp acquired a new stake in Taseko Mines during the 3rd quarter worth about $168,000. Wells Fargo & Company MN raised its holdings in Taseko Mines by 342.5% during the 3rd quarter. Wells Fargo & Company MN now owns 103,550 shares of the mining company’s stock worth $191,000 after buying an additional 80,150 shares during the period. Cavalier Investments LLC purchased a new position in Taseko Mines during the 3rd quarter valued at about $260,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Taseko Mines by 57.1% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 212,900 shares of the mining company’s stock valued at $394,000 after acquiring an additional 77,370 shares in the last quarter.
ILLEGAL ACTIVITY WARNING: This report was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://ledgergazette.com/2018/01/13/taseko-mines-tgb-lowered-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Taseko Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taseko Mines and related companies with MarketBeat.com's FREE daily email newsletter.