CenterBook Partners LP Decreases Position in Taseko Mines Limited $TGB

CenterBook Partners LP cut its stake in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) by 15.3% during the fourth quarter, HoldingsChannel reports. The firm owned 656,305 shares of the company’s stock after selling 118,132 shares during the quarter. CenterBook Partners LP’s holdings in Taseko Mines were worth $3,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in Taseko Mines by 22.6% during the fourth quarter. Parallel Advisors LLC now owns 11,049 shares of the company’s stock valued at $63,000 after purchasing an additional 2,035 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Taseko Mines during the third quarter valued at approximately $49,000. Brevan Howard Capital Management LP purchased a new stake in Taseko Mines during the third quarter valued at approximately $61,000. Swiss Life Asset Management Ltd purchased a new stake in Taseko Mines during the third quarter valued at approximately $61,000. Finally, SIH Partners LLLP purchased a new stake in Taseko Mines during the third quarter valued at approximately $62,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Taseko Mines Stock Up 1.4%

Taseko Mines stock opened at $6.74 on Tuesday. The firm has a market cap of $2.46 billion, a P/E ratio of 224.74 and a beta of 1.25. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88. Taseko Mines Limited has a twelve month low of $2.77 and a twelve month high of $9.25. The business has a fifty day moving average of $7.13 and a two-hundred day moving average of $6.79.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TGB shares. Zacks Research downgraded Taseko Mines from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Canaccord Genuity Group upped their target price on 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. TD Securities reaffirmed a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. Finally, Cantor Fitzgerald raised Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

Taseko Mines Profile

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.