Taseko Mines Limited $TGB Shares Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Taseko Mines stake by 4.9% in the first quarter, adding 267,640 shares to own 5.68 million shares, or approximately 1.55% of the company valued at $36.6 million.
• Institutional investors and hedge funds collectively own 17.94% of Taseko Mines. Analysts maintain a generally positive view, with four Buy ratings and one Hold rating, and a consensus price target of $9.00.
• Taseko Mines shares opened at $7.11, compared with a 12-month range of $2.95 to $9.25. The company operates the Gibraltar copper mine in British Columbia and is developing additional copper-focused assets.

Renaissance Technologies LLC lifted its stake in Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) by 4.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,682,070 shares of the company's stock after buying an additional 267,640 shares during the quarter. Renaissance Technologies LLC owned approximately 1.55% of Taseko Mines worth $36,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new position in Taseko Mines in the fourth quarter valued at approximately $35,000. Ausdal Financial Partners Inc. purchased a new stake in Taseko Mines in the 2nd quarter worth approximately $52,000. Brevan Howard Capital Management LP acquired a new stake in shares of Taseko Mines during the 3rd quarter worth approximately $61,000. Swiss Life Asset Management Ltd acquired a new stake in shares of Taseko Mines during the 3rd quarter worth approximately $61,000. Finally, Marex Group plc purchased a new position in shares of Taseko Mines during the 4th quarter valued at approximately $61,000. 17.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TGB shares. Zacks Research upgraded shares of Taseko Mines from a "strong sell" rating to a "hold" rating in a research note on Monday, June 15th. Cantor Fitzgerald upgraded shares of Taseko Mines from a "buy" rating to a "buy" rating and set a $9.00 price target on the stock in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group lifted their price objective on shares of Taseko Mines from C$13.50 to C$14.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Taseko Mines Stock Performance

Shares of TGB stock opened at $7.11 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.88. Taseko Mines Limited has a 12-month low of $2.95 and a 12-month high of $9.25. The business's 50 day moving average is $7.05 and its two-hundred day moving average is $7.22. The company has a market capitalization of $2.60 billion, a P/E ratio of 237.08 and a beta of 1.28.

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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