CenterBook Partners LP Lowers Position in Taseko Mines Limited $TGB

CenterBook Partners LP lessened its stake in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 656,305 shares of the company’s stock after selling 118,132 shares during the period. CenterBook Partners LP owned approximately 0.18% of Taseko Mines worth $3,715,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PCJ Investment Counsel Ltd. bought a new stake in shares of Taseko Mines in the 3rd quarter worth $3,080,000. Montrusco Bolton Investments Inc. bought a new stake in shares of Taseko Mines in the 3rd quarter worth $12,260,000. Mudita Advisors LLP increased its holdings in shares of Taseko Mines by 75.4% in the 3rd quarter. Mudita Advisors LLP now owns 2,788,401 shares of the company’s stock worth $11,795,000 after purchasing an additional 1,198,700 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Taseko Mines by 40.1% in the 3rd quarter. Alps Advisors Inc. now owns 573,846 shares of the company’s stock worth $2,427,000 after purchasing an additional 164,348 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Taseko Mines by 181.3% in the 3rd quarter. Quantbot Technologies LP now owns 153,722 shares of the company’s stock worth $650,000 after purchasing an additional 99,073 shares in the last quarter. Institutional investors own 17.94% of the company’s stock.

Taseko Mines Stock Performance

NYSEAMERICAN TGB opened at $6.74 on Tuesday. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 224.74 and a beta of 1.25. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $7.13 and a 200-day moving average price of $6.79. Taseko Mines Limited has a twelve month low of $2.77 and a twelve month high of $9.25.

Analysts Set New Price Targets

A number of analysts have commented on the company. Cantor Fitzgerald raised Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Thursday, May 7th. 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 report on Tuesday, April 21st. TD Securities reaffirmed a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Finally, Zacks Research lowered Taseko Mines from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

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.