Walleye Capital LLC Makes New $12.74 Million Investment in Taseko Mines Limited $TGB

Walleye Capital LLC purchased a new position in Taseko Mines Limited (NYSEAMERICAN:TGB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,975,144 shares of the company’s stock, valued at approximately $12,740,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGB. Deutsche Bank AG boosted its stake in shares of Taseko Mines by 5.8% in the 4th quarter. Deutsche Bank AG now owns 23,956 shares of the company’s stock valued at $136,000 after purchasing an additional 1,322 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Taseko Mines by 1.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 87,543 shares of the company’s stock worth $495,000 after buying an additional 1,642 shares during the last quarter. Prairiewood Capital LLC raised its stake in Taseko Mines by 14.3% during the fourth quarter. Prairiewood Capital LLC now owns 16,000 shares of the company’s stock worth $91,000 after buying an additional 2,000 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Taseko Mines by 22.6% in the fourth quarter. Parallel Advisors LLC now owns 11,049 shares of the company’s stock valued at $63,000 after buying an additional 2,035 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Taseko Mines by 25.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company’s stock valued at $92,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds own 17.94% of the company’s stock.

Taseko Mines Price Performance

Taseko Mines stock opened at $7.58 on Thursday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 252.75 and a beta of 1.28. Taseko Mines Limited has a 52-week low of $2.95 and a 52-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. The stock’s 50 day moving average price is $7.04 and its two-hundred day moving average price is $7.19.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TGB. Zacks Research raised shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Canaccord Genuity Group lifted their price objective on Taseko Mines from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Cantor Fitzgerald raised Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.00.

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.