Handle With Care: Taseko Mines Limited (AMEX: TGB)


Benefit Street Partners LLC recently announced the acquisition of new stake in Taseko Mines Limited (AMEX:TGB). The institutional investor has increased its shareholding in the Basic Materials company by 46.35% to 6.05 million shares with purchase of 1.92 million shares. This fresh investment now brings its stake to 2.46% valued currently at $3.9 million. In addition, Acadian Asset Management LLC raised its holdings by 82406.0 to 3.8 million shares. And Connor, Clark & Lunn Investment M. has lifted its position by 14.52% or 0.13 million shares – to 1.03 million shares.

With over 1.11 million Taseko Mines Limited (TGB) shares trading Monday and a closing price of $0.83 on the day, the dollar volume was approximately $0.92 million. The shares have shown a positive weekly performance of 2.70% and its price on 08/24/20 lost nearly -2.13%. Currently, there are 246.19M common shares owned by the public and among those 235.06M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for TGB have a consensus price objective of $1.00. The analysts have set the share’s price value over the next 12 months at a high of $1.64 and a low of $0.60 should the stock experience a downside. Incidentally, analysts’ outlook for the Taseko Mines Limited stock is 3.00 for the next 12 months. But an upside of 49.39% will see the stock hit the forecast high price target while mean target price for the stock is $0.94.

The top 3 mutual fund holders in Taseko Mines Limited are Vertex Managed Value Portfolio, DFA International Core Equity Por, and DFA Canadian Small Company Series. Vertex Managed Value Portfolio owns 3.15 million shares of the company’s stock, all valued at over $2.03 million. The company sold -1.99 million shares recently to bring their total holdings to about 1.28% of the shares outstanding. DFA Canadian Small Company Series now owns shares totaling to 0.58% of the shares outstanding.

Shares of Taseko Mines Limited (AMEX: TGB) opened at $0.87, up $0.02 from a prior closing price of $0.85. However, the script later closed the day at $0.83, down -2.13%. The company’s stock has a 5-day price change of 2.70% and 93.47% over the past three months. TGB shares are trading 73.31% year to date (YTD), with the 12-month market performance up to 109.55% higher. It has a 12-month low price of $0.20 and touched a high of $0.88 over the same period. Currently, 1.11 million shares have been traded, compared to an average intraday trading volume of 1.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.62%, 33.66%, and 83.17% respectively.

Institutional ownership of Taseko Mines Limited (AMEX: TGB) shares accounts for 22.50% of the company’s 246.19M shares outstanding. Mutual fund holders own 3.88%, while other institutional holders and individual stakeholders account for 5.12% and — respectively.

It has a market capitalization of $207.88M and a beta (3y monthly) value of 2.82. The earnings-per-share (ttm) stands at -$0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.04% over the week and 8.06% over the month.

Analysts forecast that Taseko Mines Limited (TGB) will achieve an EPS of $0.01 for the current quarter, $0.09 for the next quarter and $0.23 for 2019. The lowest estimate earnings-per-share for the quarter is $0.01 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to decrease by -39.40%, and 21.10% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Taseko Mines Limited (TGB) as a “Hold” at a consensus score of 3.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 8 advise that investors “hold,” and 1 rated it as a “Sell.”

Looking at the support for the TGB, a number of firms have released research notes about the stock. Liberum stated their Buy rating for the stock in a research note on May 22, 2020, with the firm’s price target at. National Bank Financial coverage for the Taseko Mines Limited (TGB) stock in a research note released on November 18, 2019 offered a Sector Perform rating with a price target of. TD Securities was of a view on July 22, 2019 that the stock is Hold, while BMO Capital Markets gave the stock Outperform rating on July 05, 2019, issuing a price target of. National Bank Financial on their part issued Outperform rating on April 10, 2018.


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