Walleye Capital LLC Buys Shares of 1,975,144 Taseko Mines Limited $TGB

Key Points

• Walleye Capital LLC opened a new position in Taseko Mines in Q1, buying 1,975,144 shares worth about $12.74 million and taking roughly a 0.54% stake in the company.
• Other institutional investors also adjusted holdings, and institutional ownership now stands at 17.94% of Taseko Mines’ stock.
• Analysts remain cautiously positive on the stock: the consensus rating is Moderate Buy with a $9.00 target price, while Taseko shares recently traded at $7.58 and have ranged from $2.95 to $9.25 over the past year.

Walleye Capital LLC bought a new position in shares of Taseko Mines Limited (NYSEAMERICAN:TGB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,975,144 shares of the company's stock, valued at approximately $12,740,000. Walleye Capital LLC owned approximately 0.54% of Taseko Mines at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Deutsche Bank AG boosted its position in Taseko Mines by 5.8% in the fourth quarter. Deutsche Bank AG now owns 23,956 shares of the company's stock valued at $136,000 after buying an additional 1,322 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Taseko Mines by 1.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 87,543 shares of the company's stock worth $495,000 after buying an additional 1,642 shares during the last quarter. Prairiewood Capital LLC grew its stake in shares of Taseko Mines by 14.3% during the fourth quarter. Prairiewood Capital LLC now owns 16,000 shares of the company's stock worth $91,000 after buying an additional 2,000 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Taseko Mines by 22.6% during the fourth quarter. Parallel Advisors LLC now owns 11,049 shares of the company's stock worth $63,000 after buying an additional 2,035 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Taseko Mines by 25.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,850 shares of the company's stock worth $92,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 17.94% of the company's stock.

Taseko Mines Stock Performance

NYSEAMERICAN TGB opened at $7.58 on Thursday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 252.75 and a beta of 1.28. Taseko Mines Limited has a twelve month low of $2.95 and a twelve month high of $9.25. The stock has a fifty day simple moving average of $7.04 and a 200 day simple moving average of $7.19. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88.

Analyst Ratings Changes

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

Taseko Mines Company 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.

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