Taseko Mines (NYSEAMERICAN:TGB) Receives New Coverage from Analysts at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Taseko Mines (NYSEAMERICAN:TGBGet Rating) (TSE:TKO) in a research report sent to investors on Tuesday morning, The Fly reports. The firm issued a buy rating on the mining company’s stock.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets reduced their target price on Taseko Mines from C$2.75 to C$2.50 in a research note on Tuesday, August 9th. National Bank Financial increased their target price on Taseko Mines from C$1.75 to C$2.00 in a research note on Thursday, October 13th. Stifel Nicolaus reduced their price objective on Taseko Mines from C$2.50 to C$2.40 in a research note on Friday, November 4th. Finally, Scotiabank raised their price objective on Taseko Mines from C$1.75 to C$2.00 in a research note on Thursday, October 13th.

Taseko Mines Trading Up 7.1 %

Taseko Mines stock opened at $1.35 on Tuesday. The company has a market cap of $386.61 million, a PE ratio of 13.50 and a beta of 2.21. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.26 and a quick ratio of 2.49. Taseko Mines has a 52 week low of $0.89 and a 52 week high of $2.41.

Institutional Investors Weigh In On Taseko Mines

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Taseko Mines by 38.8% in the third quarter. BlackRock Inc. now owns 9,769,733 shares of the mining company’s stock valued at $11,137,000 after buying an additional 2,730,110 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Taseko Mines by 45.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 9,000,026 shares of the mining company’s stock valued at $10,260,000 after buying an additional 2,809,969 shares during the last quarter. National Bank of Canada FI lifted its stake in Taseko Mines by 13.4% in the third quarter. National Bank of Canada FI now owns 100,064 shares of the mining company’s stock valued at $109,000 after buying an additional 11,800 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Taseko Mines during the second quarter valued at $42,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Taseko Mines during the second quarter valued at $60,000. 20.95% of the stock is currently owned by institutional investors.

About Taseko Mines

(Get Rating)

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. It also holds 100% interest in 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.

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