Taseko Mines Limited $TGB Stock Sold by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Taseko Mines stake by 14.6% in the third quarter, selling 274,126 shares; it held 1.60 million shares worth about $14.3 million at quarter-end.
• Several other investment firms opened positions during the quarter, while hedge funds and institutions collectively owned 17.94% of Taseko.
• Taseko reported quarterly earnings of $0.11 per share, matching consensus. Analysts’ consensus rating was Moderate Buy, with an average price target of $9.

Alps Advisors Inc. lessened its stake in Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) by 14.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,601,228 shares of the company's stock after selling 274,126 shares during the period. Alps Advisors Inc. owned about 0.44% of Taseko Mines worth $14,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Jean Financial LLC acquired a new stake in shares of Taseko Mines in the third quarter valued at $92,000. CHICAGO TRUST Co NA acquired a new position in shares of Taseko Mines in the 3rd quarter valued at $93,000. SteelPeak Wealth LLC acquired a new position in Taseko Mines in the third quarter valued at $97,000. Waldron Private Wealth LLC acquired a new stake in shares of Taseko Mines in the 3rd quarter valued at about $107,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Taseko Mines during the third quarter worth approximately $144,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Taseko Mines Stock Performance

NYSEAMERICAN TGB opened at $6.95 on Friday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 46.34 and a beta of 1.44. The business's 50 day moving average is $8.28 and its two-hundred day moving average is $7.64. Taseko Mines Limited has a 12-month low of $3.93 and a 12-month high of $9.82. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.85.

Taseko Mines (NYSEAMERICAN:TGB - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The firm had revenue of $244.56 million for the quarter. Taseko Mines had a return on equity of 20.00% and a net margin of 6.68%. Research analysts expect that Taseko Mines Limited will post 0.34 EPS for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group initiated coverage on Taseko Mines in a research report on Thursday, August 20th. They issued a "buy" rating on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $9.00.

Taseko Mines Company Profile

Taseko Mines Limited is a Canadian mining company focused on the acquisition, development and operation of copper and other mineral properties. The company's primary producing asset is the Gibraltar Mine in British Columbia, one of Canada's largest open-pit copper-molybdenum mines. Taseko operates Gibraltar in partnership with Cariboo Copper Corp.

The company also holds interests in several development-stage projects. These include the Florence Copper project in Arizona, which is designed to produce copper through an in-situ recovery process, and the Yellowhead copper, gold and silver project in British Columbia.

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