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Taseko Mines (TSE:TKO) Stock Price Down 9.8% on Analyst Downgrade

Defense World ·  {{timeTz}}

Taseko Mines Limited (TSE:TKO – Get Rating) (NYSE:TGB) traded down 9.8% on Tuesday after TD Securities lowered their price target on the stock from C$2.50 to C$2.25. TD Securities currently has a buy rating on the stock. Taseko Mines traded as low as C$1.29 and last traded at C$1.29. 171,144 shares were traded during trading, a decline of 62% from the average session volume of 452,189 shares. The stock had previously closed at C$1.43.

Several other equities analysts have also commented on TKO. National Bankshares decreased their price target on Taseko Mines from C$1.85 to C$1.70 and set a "sector perform" rating on the stock in a research note on Tuesday, July 19th. Stifel Nicolaus decreased their price target on Taseko Mines from C$3.40 to C$2.50 in a research note on Tuesday, July 19th. Scotiabank decreased their price target on Taseko Mines from C$2.00 to C$1.75 in a research note on Wednesday. Finally, BMO Capital Markets decreased their price target on Taseko Mines from C$2.75 to C$2.50 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of C$2.35.

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Taseko Mines Trading Up 11.4 %

The company has a 50 day moving average of C$1.50 and a 200-day moving average of C$2.14. The company has a debt-to-equity ratio of 143.79, a quick ratio of 2.33 and a current ratio of 3.06. The stock has a market cap of C$420.84 million and a price-to-earnings ratio of 8.17.

Taseko Mines Company Profile

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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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