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TD Securities Thinks Taseko Mines’ Stock is Going to Recover


Taseko Mines (TSX: TKO), the Materials sector company, has received a rating update from a Wall Street analyst yesterday. TD Securities’ analyst Craig Hutchison reiterates their Buy rating on the shares, with a C$1.60 price target.

According to TipRanks.com, Hutchison is a 4-star analyst with an average return of 17.2% and a 47.8% success rate. Hutchison covers the Basic Materials sector, focusing on stocks such as Taseko Mines Limited, Capstone Mining Corp, and Denison Mines.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Taseko Mines with a C$1.60 average price target.

Based on Taseko Mines’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$4.67 million. In comparison, last year the company had a net profit of C$20.14 million.

Taseko Mines Ltd. engages in the acquisition, development, and operation of mineral deposits. It focuses on copper assets of Gibraltar Mine located in central British Columbia as well as the Florence copper, Aley niobium, Harmony gold, and New Prosperity gold-copper projects. The company was founded on April 15, 1966 and is headquartered in Vancouver, Canada.

The company’s shares closed on Thursday at C$0.97, close to its 52-week low of C$0.90.