331,978 Shares in Taseko Mines Limited $TGB Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc purchased a new stake in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 331,978 shares of the company’s stock, valued at approximately $1,880,000. CIBC Asset Management Inc owned about 0.09% of Taseko Mines at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prairiewood Capital LLC lifted its stake in Taseko Mines by 14.3% in the fourth quarter. Prairiewood Capital LLC now owns 16,000 shares of the company’s stock worth $91,000 after purchasing an additional 2,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Taseko Mines by 25.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company’s stock valued at $92,000 after buying an additional 3,000 shares during the last quarter. CenterBook Partners LP raised its holdings in shares of Taseko Mines by 0.7% in the third quarter. CenterBook Partners LP now owns 774,437 shares of the company’s stock worth $3,276,000 after buying an additional 5,007 shares during the period. National Bank of Canada FI raised its holdings in shares of Taseko Mines by 12.2% in the third quarter. National Bank of Canada FI now owns 58,640 shares of the company’s stock worth $247,000 after buying an additional 6,399 shares during the period. Finally, Focus Partners Wealth lifted its stake in shares of Taseko Mines by 19.9% during the 1st quarter. Focus Partners Wealth now owns 60,200 shares of the company’s stock worth $135,000 after acquiring an additional 10,000 shares during the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

Taseko Mines Stock Performance

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zacks Research downgraded Taseko Mines from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Canaccord Genuity Group lifted their price objective 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. Cantor Fitzgerald raised 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. Finally, TD Securities reaffirmed a “buy” rating on shares of Taseko Mines in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

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.