Envestnet Asset Management Inc. Makes New Investment in Taseko Mines Limited (NYSE:TGB)

Envestnet Asset Management Inc. bought a new stake in shares of Taseko Mines Limited (NYSE:TGB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 31,943 shares of the company’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TGB. Abacus Wealth Partners LLC bought a new position in Taseko Mines in the fourth quarter valued at about $29,000. LPL Financial LLC bought a new position in shares of Taseko Mines in the 4th quarter worth approximately $70,000. Prairiewood Capital LLC purchased a new position in shares of Taseko Mines in the fourth quarter worth approximately $76,000. Virtu Financial LLC bought a new stake in Taseko Mines during the fourth quarter valued at approximately $96,000. Finally, Callan Family Office LLC purchased a new stake in Taseko Mines during the fourth quarter valued at approximately $106,000. 17.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a research note on Monday.

Taseko Mines Stock Performance

NYSE:TGB opened at $1.98 on Friday. The stock has a 50-day simple moving average of $2.15 and a two-hundred day simple moving average of $2.10. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. Taseko Mines Limited has a 52-week low of $1.67 and a 52-week high of $3.15. The firm has a market capitalization of $625.43 million, a PE ratio of -66.00 and a beta of 1.41.

Taseko Mines Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company’s principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.