Taseko Mines Limited (NYSEAMERICAN:TGB) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Taseko Mines Limited (NYSEAMERICAN:TGB) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $9.00.

Separately, Jefferies Financial Group began coverage on Taseko Mines in a research report on Thursday, August 20th. They set a “buy” rating for the company.

Taseko Mines Price Performance

Taseko Mines stock opened at $7.41 on Tuesday. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 370.69 and a beta of 1.41. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $8.46 and a 200 day simple moving average of $7.64. Taseko Mines has a 52 week low of $3.93 and a 52 week high of $9.82.

Institutional Investors Weigh In On Taseko Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in Taseko Mines by 4.9% during the first quarter. Renaissance Technologies LLC now owns 5,682,070 shares of the company’s stock valued at $36,649,000 after purchasing an additional 267,640 shares during the last quarter. Bank of America Corp DE grew its stake in Taseko Mines by 215.3% in the 1st quarter. Bank of America Corp DE now owns 4,577,781 shares of the company’s stock worth $29,527,000 after buying an additional 3,125,829 shares in the last quarter. Walleye Capital LLC purchased a new position in Taseko Mines in the 1st quarter worth approximately $12,740,000. Royal Bank of Canada increased its holdings in shares of Taseko Mines by 1,009.9% in the 1st quarter. Royal Bank of Canada now owns 1,512,151 shares of the company’s stock worth $9,753,000 after buying an additional 1,375,912 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Taseko Mines in the 1st quarter worth $7,198,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

About Taseko Mines

Taseko Mines Limited is a Canadian mining company focused on the acquisition, development and operation of copper and other mineral properties. The company’s primary producing asset is the Gibraltar Mine in British Columbia, one of Canada’s largest open-pit copper-molybdenum mines. Taseko operates Gibraltar in partnership with Cariboo Copper Corp.

The company also holds interests in several development-stage projects. These include the Florence Copper project in Arizona, which is designed to produce copper through an in-situ recovery process, and the Yellowhead copper, gold and silver project in British Columbia.