TD Asset Management Inc Increases Position in Taseko Mines Limited $TGB

TD Asset Management Inc lifted its position in Taseko Mines Limited (NYSEAMERICAN:TGB) by 815.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,635,594 shares of the company’s stock after purchasing an additional 3,238,558 shares during the period. TD Asset Management Inc owned about 1.01% of Taseko Mines worth $20,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Taseko Mines in the third quarter worth $49,000. Brevan Howard Capital Management LP purchased a new stake in shares of Taseko Mines in the third quarter worth $61,000. Swiss Life Asset Management Ltd purchased a new stake in shares of Taseko Mines in the third quarter worth $61,000. SIH Partners LLLP purchased a new stake in shares of Taseko Mines in the third quarter worth $62,000. Finally, BIP Wealth LLC purchased a new stake in shares of Taseko Mines in the fourth quarter worth $89,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TGB. Zacks Research cut shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Cantor Fitzgerald raised shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Thursday, May 7th. TD Securities reissued a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. Finally, Canaccord Genuity Group raised their target price on shares of Taseko Mines from C$13.50 to C$14.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.00.

Taseko Mines Stock Performance

TGB opened at $6.65 on Monday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 221.74 and a beta of 1.25. The company has a fifty day moving average of $7.12 and a 200 day moving average of $6.77. Taseko Mines Limited has a fifty-two week low of $2.71 and a fifty-two week high of $9.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 1.37.

About Taseko Mines

Taseko Mines Ltd. is a Vancouver‐based mining company primarily engaged in the exploration, development and production of copper‐based projects. Its flagship operation is the Gibraltar copper mine in central British Columbia, which ranks among Canada’s largest open pit copper producers. In addition to copper, Gibraltar yields byproducts such as molybdenum and silver, reflecting Taseko’s focus on base and precious metals.

Beyond Gibraltar, Taseko holds two advanced development assets.