TD Securities Keeps Their Hold Rating on Taseko Mines

By Austin Angelo

Taseko Mines (TSX: TKO), the Materials sector company, was revisited by a Wall Street analyst on June 15. Analyst Craig Hutchison from TD Securities reiterated a Hold rating, with a C$1.90 price target on June 15.

Hutchison observed:

“We now estimate that the company will end Q2/17 with overall net debt of $256mm (Q1/17 – $235mm) and $105mm in cash (Q1/17 – $149mm).”

According to TipRanks.com, Hutchison is a 3-star analyst with an average return of 4.7% and a 37.5% success rate. Hutchison covers the Basic Materials sector, focusing on stocks such as Nevsun Resources Ltd, Taseko Mines Limited, and Turquoise Hill.

Currently, the analyst consensus on Taseko Mines is Hold and the average price target is C$1.92, representing a 27.2% upside.

In a report issued on June 5, RBC Capital also reiterated a Hold rating on the stock with a C$1.75 price target.

Taseko Mines’ market cap is currently C$341.5M and has a P/E ratio of 0.

Taseko Mines Ltd. engages in the development, exploration and selling of metals . Its exploration projects includes Gibraltar copper-molybdenum mine, New Prosperity gold-copper, Harmony gold, and Aley niobium, located in British Columbia, Canada. The company was founded on April 15, 1966 and is headquartered in Vancouver, Canada.

The company’s shares closed last Friday at $1.51.