Counterpoint Mutual Funds LLC Makes New $616,000 Investment in Taseko Mines Limited $TGB

Counterpoint Mutual Funds LLC acquired a new stake in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 95,461 shares of the company’s stock, valued at approximately $616,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. L1 Capital Pty Ltd lifted its stake in shares of Taseko Mines by 45.2% in the 4th quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock valued at $201,190,000 after purchasing an additional 11,066,233 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Taseko Mines by 11.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,126,773 shares of the company’s stock valued at $34,376,000 after purchasing an additional 854,016 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Taseko Mines by 78.6% during the fourth quarter. Mackenzie Financial Corp now owns 6,350,898 shares of the company’s stock valued at $35,818,000 after purchasing an additional 2,794,210 shares in the last quarter. Mudita Advisors LLP grew its stake in Taseko Mines by 57.4% in the fourth quarter. Mudita Advisors LLP now owns 4,388,401 shares of the company’s stock worth $24,838,000 after purchasing an additional 1,600,000 shares during the period. Finally, TD Asset Management Inc grew its stake in Taseko Mines by 815.7% in the fourth quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock worth $20,608,000 after purchasing an additional 3,238,558 shares during the period. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Taseko Mines Price Performance

TGB stock opened at $6.93 on Friday. The firm has a 50 day moving average price of $7.09 and a 200-day moving average price of $7.03. Taseko Mines Limited has a 52-week low of $2.95 and a 52-week high of $9.25. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 231.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 1.37.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TGB. 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 research report on Thursday, May 7th. Canaccord Genuity Group boosted their target price on shares of Taseko Mines from C$13.50 to C$14.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Zacks Research raised shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Taseko Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

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.