Taseko Mines (TGB) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) from a sell rating to a hold rating in a report published on Friday.

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. “

Several other equities analysts have also weighed in on TGB. TheStreet lowered shares of Taseko Mines from a c- rating to a d rating in a report on Friday, August 31st. TD Securities upgraded shares of Taseko Mines from a hold rating to a buy rating in a report on Wednesday, August 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $0.75.

TGB traded down $0.02 on Friday, reaching $0.66. 147,052 shares of the company’s stock were exchanged, compared to its average volume of 717,703. Taseko Mines has a twelve month low of $0.62 and a twelve month high of $2.38.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last posted its earnings results on Tuesday, August 7th. The mining company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $73.06 million during the quarter.

Several hedge funds have recently modified their holdings of TGB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Taseko Mines in the 2nd quarter worth approximately $230,000. Millennium Management LLC lifted its holdings in shares of Taseko Mines by 58.8% in the 1st quarter. Millennium Management LLC now owns 261,764 shares of the mining company’s stock worth $301,000 after acquiring an additional 96,892 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its holdings in shares of Taseko Mines by 44.7% in the 3rd quarter. CIBC World Markets Inc. now owns 492,198 shares of the mining company’s stock worth $394,000 after acquiring an additional 152,148 shares during the last quarter.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds a 75% interest in the Gibraltar copper-molybdenum mine located in south-central British Columbia.

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