Stifel Nicolaus Initiates Coverage on Taseko Mines (NYSE:TGB)

Equities researchers at Stifel Nicolaus assumed coverage on shares of Taseko Mines (NYSE:TGB) in a report issued on Tuesday, StockNewsAPI reports. The brokerage set a “buy” rating on the stock.

Separately, TheStreet raised Taseko Mines from a “d” rating to a “c” rating in a report on Thursday, March 14th.

Taseko Mines Price Performance

Shares of NYSE TGB opened at $2.21 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.77 and a quick ratio of 0.90. The stock has a fifty day moving average price of $1.60 and a 200 day moving average price of $1.39. Taseko Mines has a 1-year low of $1.05 and a 1-year high of $2.25. The company has a market cap of $640.51 million, a PE ratio of 11.03 and a beta of 1.94.

Taseko Mines (NYSE:TGB) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Taseko Mines had a return on equity of 11.54% and a net margin of 15.66%. The company had revenue of $112.90 million for the quarter. Sell-side analysts forecast that Taseko Mines will post 0.09 EPS for the current year.

Institutional Investors Weigh In On Taseko Mines

A number of hedge funds and other institutional investors have recently bought and sold shares of TGB. JPMorgan Chase & Co. lifted its holdings in Taseko Mines by 10.0% in the first quarter. JPMorgan Chase & Co. now owns 376,136 shares of the company’s stock valued at $861,000 after acquiring an additional 34,100 shares during the period. American Century Companies Inc. raised its stake in shares of Taseko Mines by 305.3% during the 1st quarter. American Century Companies Inc. now owns 309,635 shares of the company’s stock worth $713,000 after buying an additional 233,235 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Taseko Mines by 148.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,450 shares of the company’s stock worth $83,000 after buying an additional 21,790 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Taseko Mines by 14.9% during the 1st quarter. HighTower Advisors LLC now owns 77,196 shares of the company’s stock worth $176,000 after buying an additional 10,000 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Taseko Mines by 663.0% during the 1st quarter. Bank of Montreal Can now owns 819,644 shares of the company’s stock worth $1,836,000 after buying an additional 712,220 shares during the last quarter. Institutional investors and hedge funds own 17.94% of the company’s stock.

Taseko Mines Company Profile

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 87.5% 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.