TD Asset Management Inc Acquires 728,241 Shares of Taseko Mines Limited (NYSE:TGB)

Key Points

• TD Asset Management Inc has increased its stake in Taseko Mines Limited by 22.2%, owning approximately 4 million shares worth about $8.96 million.
• The company currently has a market capitalization of $969.83 million with a PE ratio of -102.33, indicating recent financial struggles.
• Analysts have recently downgraded Taseko Mines from a "hold" rating to a "sell" rating, while TD Securities raised their price target for the stock from $3.50 to $5.00.

TD Asset Management Inc increased its position in Taseko Mines Limited (NYSE:TGB - Free Report) by 22.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,003,547 shares of the company's stock after acquiring an additional 728,241 shares during the quarter. TD Asset Management Inc owned about 1.27% of Taseko Mines worth $8,957,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Taseko Mines in the 4th quarter valued at $1,070,000. American Century Companies Inc. boosted its position in shares of Taseko Mines by 16.8% during the 4th quarter. American Century Companies Inc. now owns 822,551 shares of the company's stock valued at $1,602,000 after acquiring an additional 118,597 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Taseko Mines during the 4th quarter valued at about $70,000. JPMorgan Chase & Co. boosted its position in shares of Taseko Mines by 58.6% during the 4th quarter. JPMorgan Chase & Co. now owns 377,602 shares of the company's stock valued at $733,000 after acquiring an additional 139,576 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Taseko Mines by 16.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,802,466 shares of the company's stock valued at $5,449,000 after acquiring an additional 396,883 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company's stock.

Wall Street Analyst Weigh In

TGB has been the subject of a number of research analyst reports. Wall Street Zen downgraded Taseko Mines from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. TD Securities downgraded Taseko Mines from a "strong-buy" rating to a "hold" rating and boosted their price objective for the company from $3.50 to $5.00 in a research report on Wednesday, July 16th.

Taseko Mines Stock Up 0.3%

Shares of TGB stock traded up $0.01 during trading hours on Friday, hitting $3.08. 4,298,735 shares of the company's stock traded hands, compared to its average volume of 10,634,385. Taseko Mines Limited has a 12-month low of $1.67 and a 12-month high of $3.67. The stock has a market cap of $974.74 million, a price-to-earnings ratio of -102.67 and a beta of 1.42. The stock's fifty day simple moving average is $3.04 and its two-hundred day simple moving average is $2.43. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

About Taseko Mines

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.