Simcoe Capital LLC Purchases New Position in Taseko Mines Limited $TGB

Simcoe Capital LLC purchased a new stake in Taseko Mines Limited (NYSEAMERICAN:TGB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 573,022 shares of the company’s stock, valued at approximately $3,243,000. Taseko Mines makes up about 3.1% of Simcoe Capital LLC’s portfolio, making the stock its 17th biggest holding. Simcoe Capital LLC owned 0.16% of Taseko Mines at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. L1 Capital Pty Ltd lifted its position in Taseko Mines by 18.4% in the 3rd quarter. L1 Capital Pty Ltd now owns 24,479,399 shares of the company’s stock valued at $107,709,000 after acquiring an additional 3,797,792 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Taseko Mines by 11.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,126,773 shares of the company’s stock valued at $34,376,000 after acquiring an additional 854,016 shares in the last quarter. Mackenzie Financial Corp lifted its position in Taseko Mines by 121.7% in the 3rd quarter. Mackenzie Financial Corp now owns 3,556,688 shares of the company’s stock valued at $15,075,000 after acquiring an additional 1,952,116 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new position in Taseko Mines in the 3rd quarter valued at about $12,260,000. Finally, Mudita Advisors LLP increased its stake in Taseko Mines by 75.4% in the 3rd quarter. Mudita Advisors LLP now owns 2,788,401 shares of the company’s stock valued at $11,795,000 after buying an additional 1,198,700 shares during the last quarter. Institutional investors own 17.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TGB shares. Canaccord Genuity Group increased their price objective 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. BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research note on Wednesday, January 14th. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. Zacks Research lowered shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Finally, Cantor Fitzgerald upgraded 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Taseko Mines Price Performance

Taseko Mines stock opened at $7.93 on Wednesday. Taseko Mines Limited has a 12 month low of $1.96 and a 12 month high of $9.25. The company has a current ratio of 1.37, a quick ratio of 0.92 and a debt-to-equity ratio of 0.88. The business’s 50 day simple moving average is $7.04 and its 200 day simple moving average is $6.42. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 264.42 and a beta of 1.26.

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.