BNP Paribas Financial Markets Has $9.04 Million Stock Position in Taseko Mines Limited $TGB

BNP Paribas Financial Markets boosted its position in Taseko Mines Limited (NYSEAMERICAN:TGB) by 270.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,597,333 shares of the company’s stock after purchasing an additional 1,166,259 shares during the period. BNP Paribas Financial Markets owned about 0.44% of Taseko Mines worth $9,041,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Taseko Mines during the third quarter worth approximately $49,000. Ausdal Financial Partners Inc. acquired a new stake in Taseko Mines during the second quarter worth approximately $52,000. Swiss Life Asset Management Ltd acquired a new stake in Taseko Mines during the third quarter worth approximately $61,000. Brevan Howard Capital Management LP acquired a new stake in Taseko Mines during the third quarter worth approximately $61,000. Finally, SIH Partners LLLP acquired a new stake in Taseko Mines during the third quarter worth approximately $62,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGB has been the subject of several research reports. 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 report on Thursday, May 7th. TD Securities restated a “buy” rating on shares of Taseko Mines in a research report on Monday, February 23rd. Zacks Research downgraded shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Finally, Canaccord Genuity Group raised their price objective on shares of 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. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.00.

Taseko Mines Stock Up 1.4%

Shares of TGB opened at $6.74 on Tuesday. Taseko Mines Limited has a 12 month low of $2.77 and a 12 month high of $9.25. The firm’s 50 day moving average is $7.13 and its 200-day moving average is $6.79. The stock has a market capitalization of $2.46 billion, a PE ratio of 224.74 and a beta of 1.25. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.88.

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.