Taseko Mines (NYSE:TGB) Stock Price Up 5.8% on Analyst Upgrade

Shares of Taseko Mines Limited (NYSE:TGB) rose 5.8% during trading on Wednesday after TD Securities raised their price target on the stock from $3.25 to $3.50. TD Securities currently has a buy rating on the stock. Taseko Mines traded as high as $2.20 and last traded at $2.20. Approximately 1,179,850 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 1,606,437 shares. The stock had previously closed at $2.08.

Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of Taseko Mines from a “d” rating to a “c” rating in a research note on Thursday, March 14th. Stifel Nicolaus initiated coverage on Taseko Mines in a research report on Tuesday. They issued a “buy” rating for the company.

Institutional Investors Weigh In On Taseko Mines

Hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Suisse AG raised its holdings in Taseko Mines by 0.5% in the 4th quarter. Credit Suisse AG now owns 1,334,070 shares of the company’s stock valued at $2,641,000 after acquiring an additional 6,368 shares in the last quarter. Mariner LLC raised its stake in Taseko Mines by 41.6% in the fourth quarter. Mariner LLC now owns 22,743 shares of the company’s stock valued at $33,000 after purchasing an additional 6,677 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Taseko Mines by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 510,545 shares of the company’s stock worth $750,000 after purchasing an additional 7,249 shares during the period. Creative Planning increased its holdings in Taseko Mines by 43.7% in the 3rd quarter. Creative Planning now owns 28,070 shares of the company’s stock valued at $36,000 after buying an additional 8,541 shares during the period. Finally, Cahaba Wealth Management Inc. increased its holdings in Taseko Mines by 38.2% in the 4th quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock valued at $51,000 after buying an additional 9,980 shares during the period. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Stock Performance

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.90 and a current ratio of 1.77. The company has a market cap of $640.51 million, a P/E ratio of 11.03 and a beta of 1.94. The stock’s fifty day moving average price is $1.60 and its two-hundred day moving average price is $1.39.

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

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 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.