L1 Capital Pty Ltd Has $201.19 Million Stake in Taseko Mines Limited $TGB

L1 Capital Pty Ltd increased its stake in Taseko Mines Limited (NYSEAMERICAN:TGB) by 45.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,545,632 shares of the company’s stock after acquiring an additional 11,066,233 shares during the quarter. Taseko Mines accounts for about 10.5% of L1 Capital Pty Ltd’s portfolio, making the stock its 4th largest position. L1 Capital Pty Ltd owned about 0.10% of Taseko Mines worth $201,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PCJ Investment Counsel Ltd. bought a new stake in shares of Taseko Mines in the third quarter worth $3,080,000. Montrusco Bolton Investments Inc. bought a new stake in shares of Taseko Mines in the third quarter worth $12,260,000. Mudita Advisors LLP increased its stake in shares of Taseko Mines by 75.4% in the third quarter. Mudita Advisors LLP now owns 2,788,401 shares of the company’s stock worth $11,795,000 after buying an additional 1,198,700 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Taseko Mines by 181.3% in the third quarter. Quantbot Technologies LP now owns 153,722 shares of the company’s stock worth $650,000 after buying an additional 99,073 shares during the last quarter. Finally, Cantor Fitzgerald L. P. bought a new stake in shares of Taseko Mines in the third quarter worth $518,000. Institutional investors own 17.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TGB. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. Canaccord Genuity Group boosted their target price on shares of Taseko Mines from C$13.50 to C$14.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Zacks Research lowered shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Finally, Cantor Fitzgerald upgraded shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Taseko Mines Stock Performance

Shares of TGB opened at $7.50 on Friday. Taseko Mines Limited has a 1 year low of $2.77 and a 1 year high of $9.25. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 250.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 1.37. The firm has a fifty day moving average of $7.18 and a 200-day moving average of $6.84.

Taseko Mines 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.