CM Management LLC Sells 150,000 Shares of Taseko Mines Limited $TGB

Key Points

• CM Management LLC sold 150,000 shares of Taseko Mines in Q4, cutting its stake by 8.1% to 1,700,000 shares; Taseko now represents about 8.1% of CM Management’s portfolio and the filing values CM’s holding at roughly $9.62 million (≈0.47% of the company).
• Taseko shares opened at $7.15 with a market cap of $2.61 billion and a negative P/E, and analysts hold a "Moderate Buy" consensus (three Buys, one Sell) with an average price target of $5.00, below the recent market price.

CM Management LLC cut its stake in Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,700,000 shares of the company's stock after selling 150,000 shares during the quarter. Taseko Mines accounts for about 8.1% of CM Management LLC's portfolio, making the stock its 2nd biggest position. CM Management LLC owned approximately 0.47% of Taseko Mines worth $9,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Prairiewood Capital LLC raised its stake in shares of 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 raised its stake in shares of Taseko Mines by 25.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company's stock worth $92,000 after purchasing an additional 3,000 shares during the last quarter. CenterBook Partners LP raised its stake 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 purchasing an additional 5,007 shares during the last quarter. Carrera Capital Advisors raised its stake in shares of Taseko Mines by 0.8% in the third quarter. Carrera Capital Advisors now owns 706,110 shares of the company's stock worth $2,987,000 after purchasing an additional 5,425 shares during the last quarter. Finally, National Bank of Canada FI raised its stake 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 purchasing an additional 6,399 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 TGB opened at $7.15 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.92 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -102.13 and a beta of 1.26. The stock has a 50 day moving average of $7.15 and a 200 day moving average of $6.26. Taseko Mines Limited has a 12 month low of $1.89 and a 12 month high of $9.25.

Analyst Ratings Changes

Several brokerages have recently commented on TGB. Canaccord Genuity Group increased their price objective on Taseko Mines from C$13.50 to C$14.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. BMO Capital Markets reissued an "outperform" rating on shares of Taseko Mines in a research note on Wednesday, January 14th. TD Securities reissued a "buy" rating on shares of Taseko Mines in a research note on Monday, February 23rd. Finally, Zacks Research downgraded Taseko Mines from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 16th. Three investment 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 has a consensus rating of "Moderate Buy" and an average price target of $5.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.