Acuitas Investments LLC Has $3.77 Million Stake in Taseko Mines Limited $TGB

Acuitas Investments LLC trimmed its position in Taseko Mines Limited (NYSEAMERICAN:TGB) by 24.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 891,609 shares of the company’s stock after selling 288,815 shares during the period. Taseko Mines comprises approximately 2.4% of Acuitas Investments LLC’s holdings, making the stock its 18th largest holding. Acuitas Investments LLC owned about 0.25% of Taseko Mines worth $3,772,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. L1 Capital Pty Ltd boosted its position in shares of Taseko Mines by 64.0% in the 2nd quarter. L1 Capital Pty Ltd now owns 20,681,607 shares of the company’s stock worth $65,148,000 after purchasing an additional 8,072,986 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Taseko Mines by 261.5% during the second quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company’s stock worth $12,661,000 after buying an additional 2,907,611 shares during the period. Montrusco Bolton Investments Inc. bought a new position in shares of Taseko Mines during the 3rd quarter worth approximately $12,260,000. Mackenzie Financial Corp grew its position in Taseko Mines by 121.7% in the third quarter. Mackenzie Financial Corp now owns 3,556,688 shares of the company’s stock valued at $15,075,000 after purchasing an additional 1,952,116 shares in the last quarter. Finally, Mudita Advisors LLP grew 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 valued at $11,795,000 after acquiring an additional 1,198,700 shares in the last quarter. Institutional investors own 17.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TGB shares. TD Securities restated a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Taseko Mines in a research report on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $5.00.

Taseko Mines Stock Down 1.5%

Shares of NYSEAMERICAN:TGB opened at $6.69 on Wednesday. The firm has a fifty day moving average of $7.61 and a 200 day moving average of $5.61. Taseko Mines Limited has a 52-week low of $1.67 and a 52-week high of $9.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.92 and a current ratio of 1.50. The firm has a market capitalization of $2.44 billion, a PE ratio of -95.56 and a beta of 1.18.

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.