Persistent Asset Partners Ltd Makes New $237,000 Investment 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 bought a new position in Taseko Mines Limited (NYSE:TGB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 105,769 shares of the company's stock, valued at approximately $237,000.

Other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC boosted its holdings in shares of Taseko Mines by 51.9% during the 1st quarter. HighTower Advisors LLC now owns 32,646 shares of the company's stock valued at $73,000 after purchasing an additional 11,150 shares during the last quarter. Nuveen LLC bought a new position in shares of Taseko Mines during the 1st quarter valued at about $659,000. Virtu Financial LLC boosted its holdings in shares of Taseko Mines by 910.6% during the 1st quarter. Virtu Financial LLC now owns 501,419 shares of the company's stock valued at $1,123,000 after purchasing an additional 451,803 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Taseko Mines by 21.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,319,863 shares of the company's stock valued at $25,333,000 after purchasing an additional 2,018,397 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Taseko Mines by 44.1% in the 1st quarter. National Bank of Canada FI now owns 35,844 shares of the company's stock valued at $78,000 after acquiring an additional 10,973 shares during the last quarter. Institutional investors own 17.94% of the company's stock.

Taseko Mines Trading Down 0.9%

Shares of NYSE:TGB traded down $0.03 during trading on Friday, reaching $3.27. The company's stock had a trading volume of 1,827,753 shares, compared to its average volume of 10,207,290. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. Taseko Mines Limited has a 12 month low of $1.67 and a 12 month high of $3.67. The firm's 50 day simple moving average is $3.19 and its two-hundred day simple moving average is $2.51. The stock has a market capitalization of $1.03 billion, a PE ratio of -109.00 and a beta of 1.35.

Wall Street Analysts Forecast Growth

TGB has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Taseko Mines from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. TD Securities downgraded shares of Taseko Mines from a "strong-buy" rating to a "hold" rating and increased their price target for the company from $3.50 to $5.00 in a report on Wednesday, July 16th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Taseko Mines in a report on Friday, August 8th.

Taseko Mines Profile

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.