162,028 Taseko Mines Limited $TGB Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments cut its Taseko Mines stake by 5.9% in the third quarter, selling 162,028 shares and retaining 2.58 million shares valued at approximately $22.95 million.
• Institutional investors and hedge funds own 17.94% of Taseko Mines, with several firms—including Van ECK Associates and Penn Capital Management—adding to their positions recently.
• Taseko Mines shares traded at $8.56, near their 52-week high, while analysts maintain a “Moderate Buy” consensus with an average price target of $9.00.

Montrusco Bolton Investments Inc. reduced its stake in Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,578,107 shares of the company's stock after selling 162,028 shares during the period. Montrusco Bolton Investments Inc. owned 0.70% of Taseko Mines worth $22,953,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Taseko Mines by 1.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 133,253 shares of the company's stock valued at $1,187,000 after buying an additional 1,579 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Taseko Mines by 5.5% in the second quarter. TD Waterhouse Canada Inc. now owns 190,808 shares of the company's stock valued at $1,338,000 after acquiring an additional 9,900 shares during the last quarter. Susquehanna Advisors Group Inc. acquired a new stake in shares of Taseko Mines during the second quarter worth about $615,000. Penn Capital Management Company LLC increased its position in shares of Taseko Mines by 25.3% during the second quarter. Penn Capital Management Company LLC now owns 74,474 shares of the company's stock worth $512,000 after purchasing an additional 15,059 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Taseko Mines by 20.4% in the 2nd quarter. Van ECK Associates Corp now owns 396,290 shares of the company's stock valued at $2,727,000 after purchasing an additional 67,174 shares during the last quarter. Institutional investors and hedge funds own 17.94% of the company's stock.

Taseko Mines Stock Performance

Shares of TGB traded down $0.15 during mid-day trading on Tuesday, hitting $8.56. 3,598,372 shares of the company's stock were exchanged, compared to its average volume of 5,881,363. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.85. Taseko Mines Limited has a fifty-two week low of $3.66 and a fifty-two week high of $9.82. The business's 50 day moving average is $8.65 and its two-hundred day moving average is $7.62. The firm has a market capitalization of $3.14 billion, a P/E ratio of 428.21 and a beta of 1.41.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Zacks Research upgraded Taseko Mines from a "strong sell" rating to a "hold" rating in a research note on Monday, June 15th. Jefferies Financial Group assumed coverage on Taseko Mines in a research note on Thursday, August 20th. They issued a "buy" rating for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Taseko Mines presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.

Taseko Mines Profile

Taseko Mines Limited is a Canadian mining company engaged in the acquisition, development, and operation of copper and other mineral properties. The company is headquartered in Vancouver, British Columbia, and its shares trade on the Toronto Stock Exchange under the symbol TKO and on the NYSE American under the symbol TGB.

Taseko's principal asset is the Gibraltar Mine in central British Columbia, one of Canada's largest open-pit copper and molybdenum mines. The operation produces copper concentrate, with molybdenum as a byproduct, and has been in production since the 1970s.

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