Zacks Investment Research upgraded shares of Taseko Mines Ltd (NYSEMKT:TGB) (TSE:TKO) from a hold rating to a buy rating in a research report report published on Thursday, July 27th. Zacks Investment Research currently has $1.75 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. “
Separately, ValuEngine raised shares of Taseko Mines from a hold rating to a buy rating in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Taseko Mines presently has a consensus rating of Hold and an average price target of $1.13.
Shares of Taseko Mines (TGB) traded down 1.23% during mid-day trading on Thursday, hitting $1.60. The stock had a trading volume of 542,459 shares. The stock’s 50-day moving average price is $1.32 and its 200-day moving average price is $1.30. The stock’s market capitalization is $361.84 million. Taseko Mines has a 12-month low of $0.42 and a 12-month high of $1.63.
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Institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Taseko Mines by 147.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 135,530 shares of the mining company’s stock worth $179,000 after buying an additional 80,686 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Taseko Mines during the first quarter worth approximately $192,000. Russell Investments Group Ltd. acquired a new position in Taseko Mines during the first quarter worth approximately $208,000. Spark Investment Management LLC acquired a new position in Taseko Mines during the first quarter worth approximately $289,000. Finally, CIBC World Markets Inc. increased its position 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 in the last quarter.
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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