Persistent Asset Partners Ltd Acquires New Holdings in Taseko Mines Limited (NYSE:TGB)

Key Points

• Persistent Asset Partners Ltd acquired a new stake in Taseko Mines Limited, purchasing 105,769 shares valued at approximately $237,000 during the first quarter.
• Several institutional investors, including JPMorgan Chase & Co. and Russell Investments Group Ltd., have recently increased their stakes in Taseko Mines, indicating growing interest among major investors.
• Taseko Mines shares opened at $3.09, with a market capitalization of nearly $978 million and analyst ratings varying from "outperform" to "sell."

Persistent Asset Partners Ltd acquired a new stake in shares of Taseko Mines Limited (NYSE:TGB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 105,769 shares of the company's stock, valued at approximately $237,000.

A number of other institutional investors also recently added to or reduced their stakes in TGB. LPL Financial LLC bought a new stake in Taseko Mines during the fourth quarter valued at about $70,000. JPMorgan Chase & Co. boosted its holdings in Taseko Mines by 58.6% in the fourth quarter. JPMorgan Chase & Co. now owns 377,602 shares of the company's stock worth $733,000 after acquiring an additional 139,576 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Taseko Mines by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 145,023 shares of the company's stock worth $282,000 after acquiring an additional 5,928 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in Taseko Mines in the fourth quarter worth about $62,000. Finally, Russell Investments Group Ltd. boosted its holdings in Taseko Mines by 52.5% in the fourth quarter. Russell Investments Group Ltd. now owns 1,280,126 shares of the company's stock worth $2,483,000 after acquiring an additional 440,854 shares in the last quarter. Institutional investors own 17.94% of the company's stock.

Taseko Mines Trading Down 2.5%

Shares of NYSE:TGB opened at $3.09 on Tuesday. The business has a 50-day moving average price of $3.14 and a 200-day moving average price of $2.48. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The stock has a market cap of $977.91 million, a price-to-earnings ratio of -103.00 and a beta of 1.35. Taseko Mines Limited has a 52-week low of $1.67 and a 52-week high of $3.67.

Wall Street Analysts Forecast Growth

TGB has been the subject of several recent analyst reports. BMO Capital Markets reissued an "outperform" rating on shares of Taseko Mines in a report on Friday. TD Securities cut Taseko Mines from a "strong-buy" rating to a "hold" rating and raised their price objective for the stock from $3.50 to $5.00 in a research note on Wednesday, July 16th. Finally, Wall Street Zen cut Taseko Mines from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th.

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.

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