Koenig Investment Advisory LLC Decreases Stock Position in Taseko Mines Limited $TGB

Key Points

• Koenig Investment Advisory cut its Taseko Mines stake by 78.9% in the third quarter, selling 170,454 shares and retaining 45,468 shares valued at approximately $405,000.
• Institutional ownership remains at 17.94%, with several investors increasing their positions and Caitong International Asset Management initiating a new stake.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $9.00 target price. Taseko shares recently rose 7.2% to $8.90, near the consensus target.

Koenig Investment Advisory LLC lowered its stake in shares of Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) by 78.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,468 shares of the company's stock after selling 170,454 shares during the quarter. Taseko Mines accounts for 0.3% of Koenig Investment Advisory LLC's investment portfolio, making the stock its 28th biggest position. Koenig Investment Advisory LLC's holdings in Taseko Mines were worth $405,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TGB. Farther Finance Advisors LLC increased its stake in Taseko Mines by 1.2% in the third quarter. Farther Finance Advisors LLC now owns 133,253 shares of the company's stock valued at $1,187,000 after acquiring an additional 1,579 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Taseko Mines by 1.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 333,210 shares of the company's stock valued at $2,156,000 after buying an additional 4,106 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Taseko Mines by 8.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 72,046 shares of the company's stock worth $465,000 after buying an additional 5,306 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Taseko Mines in the 4th quarter worth approximately $51,000. Finally, TD Waterhouse Canada Inc. boosted its stake in Taseko Mines by 5.5% in the second quarter. TD Waterhouse Canada Inc. now owns 190,808 shares of the company's stock worth $1,338,000 after buying an additional 9,900 shares in the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TGB. Zacks Research raised shares of Taseko Mines from a "strong sell" rating to a "hold" rating in a research note on Monday, June 15th. Jefferies Financial Group initiated coverage on shares of Taseko Mines in a report on Thursday, August 20th. They set a "buy" rating on the stock. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.

Taseko Mines Trading Up 7.2%

Taseko Mines stock traded up $0.59 during trading hours on Friday, reaching $8.90. The stock had a trading volume of 1,783,716 shares, compared to its average volume of 5,906,449. The company has a fifty day simple moving average of $8.58 and a 200-day simple moving average of $7.58. Taseko Mines Limited has a 52 week low of $3.66 and a 52 week high of $9.82. The stock has a market cap of $3.26 billion, a PE ratio of 445.47 and a beta of 1.41. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.76.

Taseko Mines Company 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.

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.