Taseko Mines Limited $TGB Stock Position Reduced by CM Management LLC

CM Management LLC lessened its stake in Taseko Mines Limited (NYSEAMERICAN:TGB) by 19.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,850,000 shares of the company’s stock after selling 450,000 shares during the quarter. Taseko Mines makes up 6.5% of CM Management LLC’s holdings, making the stock its largest position. CM Management LLC’s holdings in Taseko Mines were worth $7,826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Taseko Mines during the 3rd quarter valued at $49,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Taseko Mines during the second quarter worth $52,000. Ausdal Financial Partners Inc. acquired a new stake in Taseko Mines during the second quarter valued at $52,000. Optiver Holding B.V. acquired a new stake in Taseko Mines during the third quarter valued at $73,000. Finally, State of Wyoming purchased a new position in Taseko Mines in the second quarter valued at about $81,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TGB shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Taseko Mines in a research report on Wednesday, January 14th. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Taseko Mines currently has a consensus rating of “Buy” and a consensus target price of $5.00.

Taseko Mines Stock Down 3.9%

Taseko Mines stock opened at $7.20 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.92 and a debt-to-equity ratio of 0.91. Taseko Mines Limited has a 1-year low of $1.67 and a 1-year high of $9.25. The firm’s fifty day simple moving average is $7.44 and its 200-day simple moving average is $5.40. The company has a market capitalization of $2.62 billion, a P/E ratio of -102.84 and a beta of 1.18.

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.