Taseko Mines Limited $TGB Shares Sold by CM Management LLC

Key Points

• CM Management trimmed its Taseko Mines stake by 19.6%, selling 450,000 shares to hold 1,850,000 shares (about 0.51% of the company) — Taseko remains its largest position at roughly 6.5% of CM Management's portfolio and was valued at $7.83 million.
• Other institutions boosted exposure: L1 Capital raised its stake 64% to 20.68 million shares (~$65.1M) and JPMorgan increased its position 261.5% to 4.02 million shares (~$12.7M), with total institutional ownership around 17.94%.
• Taseko trades with a market cap of about $2.62 billion and a 12‑month range of $1.67–$9.25; analysts have a consensus "Buy" rating with an average price target of $5.00 despite a negative P/E.

CM Management LLC trimmed its holdings in shares of Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) by 19.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,850,000 shares of the company's stock after selling 450,000 shares during the period. Taseko Mines comprises approximately 6.5% of CM Management LLC's investment portfolio, making the stock its biggest position. CM Management LLC owned approximately 0.51% of Taseko Mines worth $7,826,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TGB. L1 Capital Pty Ltd boosted its stake in shares of Taseko Mines by 64.0% during the 2nd quarter. L1 Capital Pty Ltd now owns 20,681,607 shares of the company's stock worth $65,148,000 after acquiring an additional 8,072,986 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Taseko Mines by 261.5% during the second quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company's stock worth $12,661,000 after purchasing an additional 2,907,611 shares during the period. Montrusco Bolton Investments Inc. acquired a new stake in shares of Taseko Mines during the third quarter worth $12,260,000. Bank of America Corp DE lifted its holdings in shares of 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 valued at $5,886,000 after purchasing an additional 749,390 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Taseko Mines by 23.1% during the second quarter. American Century Companies Inc. now owns 1,704,243 shares of the company's stock valued at $5,381,000 after purchasing an additional 319,528 shares during the last quarter. Institutional investors and hedge funds own 17.94% of the company's stock.

Taseko Mines Price Performance

TGB opened at $7.20 on Friday. The firm has a market capitalization of $2.62 billion, a P/E ratio of -102.84 and a beta of 1.18. The stock has a fifty day moving average of $7.44 and a 200-day moving average of $5.40. 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 12-month low of $1.67 and a 12-month high of $9.25.

Analysts Set New Price Targets

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

Taseko Mines Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.