JPMorgan Chase & Co. Has $12.88 Million Stake in Taseko Mines Limited $TGB

Key Points

• JPMorgan Chase reduced its stake by 24.3% in the third quarter, selling 974,835 shares and ending the period with 3,044,462 shares of Taseko Mines worth $12.88 million (about 0.84% of the company).
• Analysts currently have a consensus "Buy" rating on Taseko with an average target price of $5.00, backed by recent reaffirmations from TD Securities and BMO Capital Markets.
• Taseko shares opened at $5.98, trade in a 52-week range of $1.67–$9.25, and the company has a market cap of $2.18 billion with a negative P/E of -85.42 and a debt-to-equity ratio of 0.91.

JPMorgan Chase & Co. reduced its stake in shares of Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) by 24.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,044,462 shares of the company's stock after selling 974,835 shares during the quarter. JPMorgan Chase & Co. owned about 0.84% of Taseko Mines worth $12,878,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in Taseko Mines during the 3rd quarter worth approximately $49,000. Ausdal Financial Partners Inc. bought a new stake in Taseko Mines in the second quarter valued at approximately $52,000. Swiss Life Asset Management Ltd bought a new stake in Taseko Mines in the third quarter valued at approximately $61,000. Brevan Howard Capital Management LP acquired a new stake in Taseko Mines in the third quarter worth $61,000. Finally, SIH Partners LLLP acquired a new stake in Taseko Mines in the third quarter worth $62,000. 17.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Taseko Mines Price Performance

Shares of TGB opened at $5.98 on Friday. The stock has a 50 day simple moving average of $7.52 and a 200 day simple moving average of $5.72. 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 $2.18 billion, a PE ratio of -85.42 and a beta of 1.18.

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.

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