PCJ Investment Counsel Ltd. Makes New Investment in Taseko Mines Limited $TGB

Key Points

• PCJ Investment Counsel Ltd. acquired a new stake of 726,660 shares of Taseko Mines (NYSEAMERICAN:TGB) in Q3, valued at approximately $3.08 million and representing about 0.20% of the company.
• Several large institutions also increased exposure—L1 Capital now holds 20.68M shares (~$65.1M), JPMorgan raised its stake to ~4.02M shares, and Mackenzie, Montrusco and BofA added positions—bringing total institutional/hedge fund ownership to 17.94%.
• Taseko recently traded near $7.38 with a 52-week range of $1.67–$9.25 and a market cap of ~$2.69B; analysts’ consensus is a Buy with a $5.00 average price target.

PCJ Investment Counsel Ltd. acquired a new stake in Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 726,660 shares of the company's stock, valued at approximately $3,080,000. PCJ Investment Counsel Ltd. owned about 0.20% of Taseko Mines at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TGB. L1 Capital Pty Ltd boosted its stake in Taseko Mines by 64.0% in the 2nd quarter. L1 Capital Pty Ltd now owns 20,681,607 shares of the company's stock worth $65,148,000 after buying an additional 8,072,986 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Taseko Mines by 261.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company's stock worth $12,661,000 after acquiring an additional 2,907,611 shares during the period. Montrusco Bolton Investments Inc. acquired a new stake in shares of Taseko Mines in the third quarter worth approximately $12,260,000. Mackenzie Financial Corp increased its position in Taseko Mines by 121.7% during the third quarter. Mackenzie Financial Corp now owns 3,556,688 shares of the company's stock worth $15,075,000 after purchasing an additional 1,952,116 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Taseko Mines by 67.0% during the second quarter. Bank of America Corp DE now owns 1,868,650 shares of the company's stock worth $5,886,000 after purchasing an additional 749,390 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company's stock.

Taseko Mines Stock Up 2.6%

NYSEAMERICAN TGB opened at $7.38 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. Taseko Mines Limited has a fifty-two week low of $1.67 and a fifty-two week high of $9.25. The business has a 50 day moving average price of $7.51 and a two-hundred day moving average price of $5.48. The stock has a market cap of $2.69 billion, a PE ratio of -105.41 and a beta of 1.18.

Analysts Set New Price Targets

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

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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