Acuitas Investments LLC Trims Position in Taseko Mines Limited $TGB

Acuitas Investments LLC reduced its stake in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) by 24.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 891,609 shares of the company’s stock after selling 288,815 shares during the quarter. Taseko Mines makes up about 2.4% of Acuitas Investments LLC’s holdings, making the stock its 18th biggest holding. Acuitas Investments LLC’s holdings in Taseko Mines were worth $3,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its stake in shares of Taseko Mines by 24.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 819,042 shares of the company’s stock worth $3,443,000 after acquiring an additional 158,362 shares in the last quarter. Voleon Capital Management LP purchased a new position in Taseko Mines in the 3rd quarter worth about $660,000. Wexford Capital LP purchased a new position in shares of Taseko Mines during the third quarter valued at approximately $1,058,000. SIH Partners LLLP purchased a new stake in Taseko Mines during the 3rd quarter valued at $62,000. Finally, National Bank of Canada FI increased its position in Taseko Mines by 12.2% during the third quarter. National Bank of Canada FI now owns 58,640 shares of the company’s stock valued at $247,000 after acquiring an additional 6,399 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TGB. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a research report on Monday, February 23rd. BMO Capital Markets reissued an “outperform” rating on shares of Taseko Mines in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Taseko Mines has an average rating of “Buy” and a consensus price target of $5.00.

Taseko Mines Stock Performance

NYSEAMERICAN TGB opened at $6.69 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.92 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.44 billion, a PE ratio of -95.56 and a beta of 1.18. The stock has a fifty day simple moving average of $7.61 and a 200-day simple moving average of $5.61. Taseko Mines Limited has a twelve month low of $1.67 and a twelve month high of $9.25.

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.