Intact Investment Management Inc. Increases Holdings in Taseko Mines Limited $TGB

Intact Investment Management Inc. increased its stake in Taseko Mines Limited (NYSE:TGB) by 17.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,035,500 shares of the company’s stock after buying an additional 156,200 shares during the period. Intact Investment Management Inc.’s holdings in Taseko Mines were worth $4,390,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. L1 Capital Pty Ltd raised its position in Taseko Mines by 64.0% in the second quarter. L1 Capital Pty Ltd now owns 20,681,607 shares of the company’s stock worth $65,148,000 after acquiring an additional 8,072,986 shares during the period. JPMorgan Chase & Co. grew its position in shares of Taseko Mines by 261.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company’s stock valued at $12,661,000 after acquiring an additional 2,907,611 shares during the period. Bank of America Corp DE increased its stake in shares of Taseko Mines by 67.0% during the 2nd quarter. Bank of America Corp DE now owns 1,868,650 shares of the company’s stock worth $5,886,000 after purchasing an additional 749,390 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Taseko Mines by 23.1% in the 2nd quarter. American Century Companies Inc. now owns 1,704,243 shares of the company’s stock worth $5,381,000 after purchasing an additional 319,528 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Taseko Mines by 973.6% in the second quarter. Mackenzie Financial Corp now owns 1,604,572 shares of the company’s stock valued at $5,070,000 after purchasing an additional 1,455,117 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Analyst Ratings Changes

Separately, BMO Capital Markets restated an “outperform” rating on shares of Taseko Mines in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Taseko Mines has an average rating of “Moderate Buy” and an average target price of $5.00.

Taseko Mines Trading Up 2.9%

Shares of Taseko Mines stock opened at $7.85 on Tuesday. The company’s 50-day moving average price is $5.71 and its 200-day moving average price is $4.43. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. Taseko Mines Limited has a 12-month low of $1.67 and a 12-month high of $8.37. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -261.67 and a beta of 1.27.

Taseko Mines Company 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. The Florence Copper project in Arizona employs an in‐situ recovery process to extract copper, positioning it as one of North America’s first large‐scale applications of this technology.