Taseko Mines Limited $TGB Stock Holdings Reduced by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its stake in Taseko Mines Limited (NYSE:TGB) by 6.6%, now owning approximately 1,195,323 shares valued at $2,678,000.
• Institutional investors, including Connor Clark & Lunn Investment Management Ltd. and TD Asset Management Inc., have increased their holdings in Taseko Mines during the 1st quarter of 2023.
• Recent analyst ratings show mixed sentiments with Wall Street Zen downgrading Taseko Mines from "hold" to "sell," while BMO Capital Markets reaffirmed an "outperform" rating, indicating a consensus target price of $5.00.

Russell Investments Group Ltd. lessened its position in Taseko Mines Limited (NYSE:TGB - Free Report) by 6.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,195,323 shares of the company's stock after selling 84,803 shares during the period. Russell Investments Group Ltd. owned approximately 0.38% of Taseko Mines worth $2,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BIP Wealth LLC bought a new stake in shares of Taseko Mines in the 4th quarter worth $30,000. Lido Advisors LLC acquired a new stake in shares of Taseko Mines during the fourth quarter worth $37,000. Deutsche Bank AG raised its position in shares of Taseko Mines by 88.2% during the fourth quarter. Deutsche Bank AG now owns 19,857 shares of the company's stock worth $39,000 after purchasing an additional 9,308 shares during the period. Oxford Asset Management LLP acquired a new stake in shares of Taseko Mines during the fourth quarter worth $45,000. Finally, Capstone Investment Advisors LLC raised its position in shares of Taseko Mines by 44.0% during the fourth quarter. Capstone Investment Advisors LLC now owns 31,510 shares of the company's stock worth $61,000 after purchasing an additional 9,630 shares during the period. Institutional investors own 17.94% of the company's stock.

Taseko Mines Stock Up 2.2%

Shares of TGB stock traded up $0.07 on Friday, reaching $3.26. 2,184,984 shares of the company's stock traded hands, compared to its average volume of 9,773,227. Taseko Mines Limited has a 12-month low of $1.67 and a 12-month high of $3.67. 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 has a market capitalization of $1.03 billion, a P/E ratio of -108.67 and a beta of 1.35. The business's 50 day moving average price is $3.24 and its two-hundred day moving average price is $2.59.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TGB shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Taseko Mines in a research report on Friday, August 8th. TD Securities lowered Taseko Mines from a "strong-buy" rating to a "hold" rating and boosted their target price for the stock from $3.50 to $5.00 in a research report on Wednesday, July 16th. Finally, Wall Street Zen lowered Taseko Mines from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Taseko Mines presently has a consensus rating of "Moderate Buy" and an average target price of $5.00.

Taseko Mines Company 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.