Zacks Investment Research Downgrades Taseko Mines (NYSEAMERICAN:TGB) to Hold

Zacks Investment Research cut shares of Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) from a buy rating to a hold rating in a report published 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. “

Several other equities analysts have also recently issued reports on the stock. BidaskClub lowered shares of Taseko Mines from a strong-buy rating to a buy rating in a research note on Saturday, September 16th. TheStreet raised shares of Taseko Mines from a d+ rating to a c- rating in a research note on Wednesday, October 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Taseko Mines has a consensus rating of Hold and a consensus price target of $2.50.

Shares of Taseko Mines (NYSEAMERICAN:TGB) traded up $0.06 during trading hours on Wednesday, reaching $2.05. 516,944 shares of the company were exchanged, compared to its average volume of 1,622,143. The stock has a market cap of $477.09, a PE ratio of 12.06 and a beta of 2.75. Taseko Mines has a one year low of $1.00 and a one year high of $2.46.

Hedge funds have recently made changes to their positions in the business. QS Investors LLC purchased a new stake in shares of Taseko Mines in the second quarter worth $142,000. Stifel Financial Corp bought a new position in shares of Taseko Mines during the third quarter worth $168,000. Wells Fargo & Company MN boosted its position in shares of Taseko Mines by 342.5% during the third quarter. Wells Fargo & Company MN now owns 103,550 shares of the mining company’s stock worth $191,000 after acquiring an additional 80,150 shares during the last quarter. Cavalier Investments LLC bought a new position in shares of Taseko Mines during the third quarter worth $260,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Taseko Mines by 57.1% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 212,900 shares of the mining company’s stock worth $394,000 after acquiring an additional 77,370 shares during the last quarter.

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About Taseko Mines

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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