Taseko Mines Ltd (TGB) Rating Increased to Buy at Zacks Investment Research

Taseko Mines Ltd (NYSEMKT:TGB) (TSE:TKO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $2.00 price target on the mining company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.50% from the company’s current price.

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. “

Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. ValuEngine upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $1.25.

Taseko Mines (TGB) opened at 1.81 on Wednesday. The firm has a market capitalization of $409.47 million and a PE ratio of 45.25. Taseko Mines has a 12-month low of $0.41 and a 12-month high of $1.90. The company has a 50-day moving average price of $1.50 and a 200-day moving average price of $1.33.

COPYRIGHT VIOLATION WARNING: “[[title]]” was originally reported by [[site]] and is the sole property of of [[site]]. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at [[permalink]].

Several hedge funds and other institutional investors have recently made changes to their positions in TGB. Royal Bank of Canada raised its position in shares of Taseko Mines by 33.0% in the second quarter. Royal Bank of Canada now owns 430,791 shares of the mining company’s stock valued at $546,000 after buying an additional 106,879 shares during the period. QS Investors LLC acquired a new position in shares of Taseko Mines during the second quarter valued at approximately $142,000. Hillsdale Investment Management Inc. acquired a new position in shares of Taseko Mines during the second quarter valued at approximately $1,026,000. Impala Asset Management LLC raised its position in shares of Taseko Mines by 26.5% in 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 buying an additional 603,264 shares during the period. Finally, AJO LP acquired a new position in shares of Taseko Mines during the second quarter valued at approximately $1,087,000.

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.