Taseko Mines (NYSE:TGB) Cut to Sell at StockNews.com

Taseko Mines (NYSE:TGB) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Separately, National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Taseko Mines has a consensus rating of “Moderate Buy” and an average price target of $3.50.

Taseko Mines Stock Performance

TGB stock traded down $0.19 on Friday, hitting $2.05. The company had a trading volume of 5,854,013 shares, compared to its average volume of 4,548,341. The stock has a market cap of $624.57 million, a price-to-earnings ratio of 10.79 and a beta of 1.70. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The stock’s 50-day simple moving average is $2.02 and its 200 day simple moving average is $2.15. Taseko Mines has a 12-month low of $1.46 and a 12-month high of $3.15.

Institutional Trading of Taseko Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGB. Geode Capital Management LLC boosted its stake in shares of Taseko Mines by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 145,023 shares of the company’s stock worth $282,000 after acquiring an additional 5,928 shares during the last quarter. Dakota Wealth Management lifted its position in Taseko Mines by 1.5% during the third quarter. Dakota Wealth Management now owns 457,939 shares of the company’s stock valued at $1,154,000 after purchasing an additional 6,973 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Taseko Mines by 8.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 94,776 shares of the company’s stock valued at $185,000 after purchasing an additional 6,987 shares in the last quarter. Signaturefd LLC grew its holdings in Taseko Mines by 21.9% during the third quarter. Signaturefd LLC now owns 46,808 shares of the company’s stock valued at $118,000 after purchasing an additional 8,397 shares during the period. Finally, Barclays PLC increased its position in Taseko Mines by 10.8% in the fourth quarter. Barclays PLC now owns 87,899 shares of the company’s stock worth $171,000 after buying an additional 8,576 shares in the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

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 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.