Mirae Asset Global Investments Co. Ltd. Reduces Stake in Taseko Mines Limited (NYSEAMERICAN:TGB)

Mirae Asset Global Investments Co. Ltd. lowered its position in Taseko Mines Limited (NYSEAMERICAN:TGBGet Rating) (TSE:TKO) by 1.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 4,822,303 shares of the mining company’s stock after selling 89,198 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Taseko Mines were worth $11,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC boosted its position in Taseko Mines by 14.9% in the first quarter. HighTower Advisors LLC now owns 77,196 shares of the mining company’s stock valued at $176,000 after buying an additional 10,000 shares during the last quarter. Shepherd Kaplan Krochuk LLC boosted its position in Taseko Mines by 11.6% in the fourth quarter. Shepherd Kaplan Krochuk LLC now owns 160,000 shares of the mining company’s stock valued at $328,000 after buying an additional 16,620 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in Taseko Mines in the first quarter valued at approximately $41,000. Stonebridge Capital Advisors LLC boosted its position in Taseko Mines by 200.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 30,000 shares of the mining company’s stock valued at $62,000 after buying an additional 20,000 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Taseko Mines by 148.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,450 shares of the mining company’s stock valued at $83,000 after buying an additional 21,790 shares during the last quarter. Hedge funds and other institutional investors own 20.95% of the company’s stock.

Taseko Mines Stock Down 3.0 %

Shares of TGB stock opened at $1.30 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.26 and a quick ratio of 2.49. The company has a market cap of $372.29 million, a PE ratio of 13.00 and a beta of 2.21. Taseko Mines Limited has a 1-year low of $0.89 and a 1-year high of $2.41.

Analyst Upgrades and Downgrades

Several research firms have commented on TGB. National Bank Financial lowered their price objective on Taseko Mines from C$1.85 to C$1.75 in a research report on Tuesday, July 19th. Stifel Nicolaus lowered their price objective on Taseko Mines from C$3.40 to C$2.50 in a research report on Tuesday, July 19th. Scotiabank lowered their price objective on Taseko Mines from C$3.00 to C$2.00 in a research report on Thursday, July 7th. Finally, BMO Capital Markets lowered their price objective on Taseko Mines from C$2.75 to C$2.50 in a research report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Taseko Mines has a consensus rating of “Hold” and an average price target of $2.56.

Taseko Mines Company Profile

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Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds 75% interest in the Gibraltar mine located in British Columbia. It also holds 100% interest in 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.

Further Reading

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Institutional Ownership by Quarter for Taseko Mines (NYSEAMERICAN:TGB)

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