Taseko Mines Limited (NYSE:TGB) Shares Sold by Diamond Hill Capital Management Inc.

Key Points

• Diamond Hill Capital Management Inc. sold 79,152 shares of Taseko Mines Limited, reducing its stake by 4.4% to approximately 1,733,645 shares valued at $3,883,000.
• Other institutional investors have increased their positions in Taseko Mines, with Renaissance Technologies LLC raising its stake by 15.6% and Millennium Management LLC lifting its position by 105.0% during the fourth quarter.
• Shares of Taseko Mines are trading flat at $3.44, with a one-year low of $1.67 and a high of $3.67, and analysts have recently downgraded the stock’s rating from "strong-buy" to "hold".

Diamond Hill Capital Management Inc. lowered its stake in shares of Taseko Mines Limited (NYSE:TGB - Free Report) by 4.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,733,645 shares of the company's stock after selling 79,152 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.55% of Taseko Mines worth $3,883,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TGB. Renaissance Technologies LLC boosted its position in shares of Taseko Mines by 15.6% during the 4th quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company's stock worth $12,952,000 after purchasing an additional 900,400 shares during the period. Millennium Management LLC boosted its position in shares of Taseko Mines by 105.0% during the 4th quarter. Millennium Management LLC now owns 1,174,453 shares of the company's stock worth $2,279,000 after purchasing an additional 601,684 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Taseko Mines during the 4th quarter worth approximately $1,070,000. Dimensional Fund Advisors LP boosted its position in shares of Taseko Mines by 57.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,468,029 shares of the company's stock worth $2,848,000 after purchasing an additional 534,272 shares during the period. Finally, Acuitas Investments LLC lifted its holdings in Taseko Mines by 77.1% during the 1st quarter. Acuitas Investments LLC now owns 1,180,424 shares of the company's stock worth $2,644,000 after buying an additional 513,938 shares in the last quarter. Hedge funds and other institutional investors own 17.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TGB shares. Wall Street Zen lowered shares of Taseko Mines from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. TD Securities lowered shares of Taseko Mines from a "strong-buy" rating to a "hold" rating and increased their target price for the stock from $3.50 to $5.00 in a report on Wednesday, July 16th.

Taseko Mines Stock Down 1.9%

Taseko Mines stock traded down $0.07 during mid-day trading on Monday, reaching $3.38. 1,460,677 shares of the company's stock were exchanged, compared to its average volume of 10,729,974. The company has a market cap of $1.07 billion, a P/E ratio of -112.50 and a beta of 1.42. Taseko Mines Limited has a twelve month low of $1.67 and a twelve month high of $3.67. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The company has a fifty day moving average of $2.92 and a 200-day moving average of $2.39.

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.