MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Position in Taseko Mines Limited $TGB

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Taseko Mines by 2.8%, acquiring an additional 296,508 shares to own approximately 11 million shares, valued at $24.79 million.
• A number of institutional investors have significantly increased their holdings in Taseko Mines, with Deutsche Bank AG raising its stake by 88.2% in the fourth quarter.
• Analysts have mixed views on Taseko Mines, with ratings ranging from a "sell" to "outperform," while the stock has an average target price of $5.00.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Taseko Mines Limited (NYSE:TGB - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,022,109 shares of the company's stock after buying an additional 296,508 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 3.49% of Taseko Mines worth $24,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. L1 Capital Pty Ltd acquired a new stake in shares of Taseko Mines in the 1st quarter worth approximately $28,243,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Taseko Mines by 21.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,319,863 shares of the company's stock worth $25,333,000 after purchasing an additional 2,018,397 shares in the last quarter. TD Asset Management Inc grew its holdings in Taseko Mines by 22.2% in the first quarter. TD Asset Management Inc now owns 4,003,547 shares of the company's stock valued at $8,957,000 after purchasing an additional 728,241 shares during the last quarter. CenterBook Partners LP grew its holdings in Taseko Mines by 16.1% in the first quarter. CenterBook Partners LP now owns 2,838,038 shares of the company's stock valued at $6,357,000 after purchasing an additional 393,665 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Taseko Mines by 32.6% in the fourth quarter. Bank of America Corp DE now owns 1,867,965 shares of the company's stock valued at $3,624,000 after buying an additional 459,226 shares in the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Price Performance

TGB stock traded up $0.06 during trading on Friday, hitting $3.56. The stock had a trading volume of 2,354,830 shares, compared to its average volume of 9,415,144. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -118.50 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71. The company's 50 day moving average price is $3.28 and its two-hundred day moving average price is $2.66. Taseko Mines Limited has a 1-year low of $1.67 and a 1-year high of $3.67.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Securities lowered shares of Taseko Mines from a "strong-buy" rating to a "hold" rating and boosted their price objective for the stock from $3.50 to $5.00 in a research report on Wednesday, July 16th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Taseko Mines in a report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $5.00.

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.