Taseko Mines Limited (NYSE:TGB) Receives $3.50 Consensus Target Price from Brokerages

Taseko Mines Limited (NYSE:TGB - Get Free Report) has earned an average recommendation of "Buy" from the four analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $3.50.

Several research firms recently issued reports on TGB. National Bank Financial raised Taseko Mines from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, December 10th. StockNews.com upgraded Taseko Mines from a "sell" rating to a "hold" rating in a research note on Wednesday, December 11th.

Taseko Mines Stock Performance

Shares of TGB stock remained flat at $2.00 during trading hours on Friday. The stock had a trading volume of 2,279,042 shares, compared to its average volume of 2,804,821. Taseko Mines has a 1-year low of $1.27 and a 1-year high of $3.15. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The stock has a market cap of $609.08 million, a PE ratio of 10.53 and a beta of 1.72. The firm has a 50-day moving average price of $2.08 and a two-hundred day moving average price of $2.23.

Taseko Mines (NYSE:TGB - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $114.08 million for the quarter, compared to analysts' expectations of $112.48 million. Taseko Mines had a return on equity of 15.25% and a net margin of 12.69%. On average, equities analysts expect that Taseko Mines will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantinno Capital Management LP purchased a new position in shares of Taseko Mines during the 3rd quarter valued at about $38,000. SG Americas Securities LLC purchased a new position in Taseko Mines during the third quarter valued at approximately $38,000. Ballentine Partners LLC acquired a new position in Taseko Mines in the third quarter valued at approximately $42,000. Capstone Investment Advisors LLC purchased a new stake in Taseko Mines in the 3rd quarter worth approximately $56,000. Finally, Signaturefd LLC grew its stake in shares of Taseko Mines by 21.9% during the 3rd quarter. Signaturefd LLC now owns 46,808 shares of the company's stock worth $118,000 after purchasing an additional 8,397 shares during the period. 17.94% of the stock is currently owned by institutional investors and hedge funds.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.