Russell Investments Group Ltd. Trims Stock Holdings in Taseko Mines Limited $TGB

Russell Investments Group Ltd. reduced its stake in Taseko Mines Limited (NYSE:TGB) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,195,323 shares of the company’s stock after selling 84,803 shares during the period. Russell Investments Group Ltd. owned approximately 0.38% of Taseko Mines worth $2,678,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Taseko Mines by 21.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,319,863 shares of the company’s stock valued at $25,333,000 after buying an additional 2,018,397 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Taseko Mines by 2.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,725,601 shares of the company’s stock valued at $20,880,000 after buying an additional 297,403 shares during the period. TD Asset Management Inc raised its holdings in Taseko Mines by 22.2% in the 1st quarter. TD Asset Management Inc now owns 4,003,547 shares of the company’s stock valued at $8,957,000 after buying an additional 728,241 shares during the period. CenterBook Partners LP raised its holdings in Taseko Mines by 16.1% in the 1st quarter. CenterBook Partners LP now owns 2,838,038 shares of the company’s stock valued at $6,357,000 after buying an additional 393,665 shares during the period. Finally, Bank of America Corp DE grew its position in Taseko Mines by 32.6% in the 4th quarter. Bank of America Corp DE now owns 1,867,965 shares of the company’s stock valued at $3,624,000 after acquiring an additional 459,226 shares in the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TGB shares. Wall Street Zen downgraded Taseko Mines from a “hold” rating to a “sell” rating in a research report on Tuesday, May 13th. TD Securities downgraded Taseko Mines from a “strong-buy” rating to a “hold” rating and lifted their target price for the company from $3.50 to $5.00 in a research report on Wednesday, July 16th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Taseko Mines in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Taseko Mines Stock Performance

NYSE TGB opened at $3.17 on Monday. The company has a market cap of $1.00 billion, a P/E ratio of -105.67 and a beta of 1.35. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.05. The stock has a 50-day moving average of $3.21 and a two-hundred day moving average of $2.56. Taseko Mines Limited has a 1-year low of $1.67 and a 1-year high of $3.67.

About Taseko Mines

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.