Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 1,115,933 Taseko Mines Limited $TGB

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 1,115,933 shares of Taseko Mines in the first quarter, valued at approximately $7.2 million and representing about 0.31% of the company.
• Institutional interest increased, with TD Asset Management expanding its position by 815.7% and several other funds initiating stakes. Institutional investors collectively own 17.94% of Taseko Mines.
• Analysts remain generally positive: four rate the stock Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and a $9.00 target price versus the $6.71 opening price cited in the article.

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,115,933 shares of the company's stock, valued at approximately $7,198,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.31% of Taseko Mines at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. TD Asset Management Inc raised its stake in Taseko Mines by 815.7% during the fourth quarter. TD Asset Management Inc now owns 3,635,594 shares of the company's stock worth $20,608,000 after acquiring an additional 3,238,558 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. boosted its stake in shares of Taseko Mines by 214.0% in the 4th quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 181,064 shares of the company's stock valued at $1,025,000 after purchasing an additional 123,398 shares in the last quarter. Militia Capital Management LLC acquired a new stake in shares of Taseko Mines in the 1st quarter valued at $1,745,000. Simcoe Capital LLC acquired a new stake in shares of Taseko Mines during the 4th quarter worth about $3,243,000. Finally, U S Global Investors Inc. acquired a new stake in shares of Taseko Mines during the 4th quarter worth about $566,000. Institutional investors own 17.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TGB shares. Cantor Fitzgerald upgraded shares of Taseko Mines from a "buy" rating to a "buy" rating and set a $9.00 price target on the stock in a research report on Thursday, May 7th. Canaccord Genuity Group raised their price objective on shares of Taseko Mines from C$13.50 to C$14.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Taseko Mines from a "strong sell" rating to a "hold" rating in a research note on Monday, June 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.

Taseko Mines Stock Performance

Shares of NYSEAMERICAN:TGB opened at $6.71 on Thursday. Taseko Mines Limited has a twelve month low of $2.95 and a twelve month high of $9.25. The firm has a market cap of $2.45 billion, a PE ratio of 223.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 1.37. The business has a fifty day moving average of $7.06 and a 200-day moving average of $7.23.

About Taseko Mines

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.

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