TD Asset Management Inc Has $3.95 Million Position in Taseko Mines Limited $TGB

Key Points

• TD Asset Management Inc has significantly reduced its position in Taseko Mines Limited by 68.7%, now owning 1,252,976 shares valued at approximately $3.95 million.
• Wall Street analysts have mixed opinions on Taseko Mines, with TD Securities lowering its rating from "strong-buy" to "hold," while the stock maintains an average rating of "Moderate Buy" and a consensus target price of $5.00.
• As of now, institutional investors hold 17.94% of Taseko Mines' shares, reflecting a notable involvement of hedge funds in the company's stock.

TD Asset Management Inc reduced its stake in shares of Taseko Mines Limited (NYSE:TGB - Free Report) by 68.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,252,976 shares of the company's stock after selling 2,750,571 shares during the quarter. TD Asset Management Inc owned 0.40% of Taseko Mines worth $3,949,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. L1 Capital Pty Ltd acquired a new position in Taseko Mines during the first quarter worth $28,243,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Taseko Mines by 21.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,319,863 shares of the company's stock worth $25,333,000 after acquiring an additional 2,018,397 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Taseko Mines by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,022,109 shares of the company's stock worth $24,789,000 after acquiring an additional 296,508 shares in the last quarter. CenterBook Partners LP raised its stake in Taseko Mines by 16.1% during the first quarter. CenterBook Partners LP now owns 2,838,038 shares of the company's stock worth $6,357,000 after acquiring an additional 393,665 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Taseko Mines by 10.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,541,741 shares of the company's stock worth $3,454,000 after acquiring an additional 146,154 shares in the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TGB. TD Securities lowered Taseko Mines from a "strong-buy" rating to a "hold" rating and raised their target price for the company from $3.50 to $5.00 in a research note on Wednesday, July 16th. BMO Capital Markets restated an "outperform" rating on shares of Taseko Mines in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.00.

Taseko Mines Stock Performance

Shares of NYSE:TGB opened at $3.97 on Tuesday. Taseko Mines Limited has a twelve month low of $1.67 and a twelve month high of $4.84. The firm has a market cap of $1.26 billion, a PE ratio of -132.33 and a beta of 1.28. 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 business has a fifty day moving average of $3.69 and a 200-day moving average of $3.02.

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.

Want to see what other hedge funds are holding TGB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Taseko Mines Limited (NYSE:TGB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.