Zacks Investment Research upgraded shares of Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $1.25 target price 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. “
A number of other research firms also recently issued reports on TGB. BMO Capital Markets boosted their target price on shares of Taseko Mines from $1.10 to $1.25 and gave the company an outperform rating in a research report on Thursday, August 6th. TD Securities raised their target price on Taseko Mines from $1.00 to $1.10 and gave the company a hold rating in a research note on Thursday, August 6th. Finally, Scotiabank upped their price target on Taseko Mines from $0.80 to $1.00 and gave the stock an underperform rating in a research note on Tuesday, October 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $1.10.
Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last issued its quarterly earnings results on Wednesday, August 5th. The mining company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04. The business had revenue of $76.47 million for the quarter.
Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Taseko Mines during the 2nd quarter worth approximately $58,000. Capital Advisors Inc. OK lifted its holdings in Taseko Mines by 88.5% during the second quarter. Capital Advisors Inc. OK now owns 63,900 shares of the mining company’s stock worth $53,000 after acquiring an additional 30,000 shares during the period. Finally, Tempus Wealth Planning LLC purchased a new position in Taseko Mines in the second quarter worth $52,000.
Taseko Mines Company Profile
Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds 75% interest in the Gibraltar mine located in British Columbia. The company also holds 100% interest in Yellowhead copper project, the Aley niobium project, the Harmony Gold Project, and the New Prosperity gold and copper project situated in British Columbia; and the Florence copper project located in Arizona.
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