CastleKnight Management LP Lowers Position in Taseko Mines Limited $TGB

CastleKnight Management LP lessened its holdings in Taseko Mines Limited (NYSEAMERICAN:TGB) by 12.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,668,600 shares of the company’s stock after selling 233,200 shares during the period. CastleKnight Management LP owned 0.46% of Taseko Mines worth $9,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TGB. L1 Capital Pty Ltd raised its position in shares of Taseko Mines by 45.2% in the fourth quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock worth $201,190,000 after buying an additional 11,066,233 shares in the last quarter. TD Asset Management Inc raised its position in shares of Taseko Mines by 815.7% in the fourth quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock worth $20,608,000 after buying an additional 3,238,558 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in shares of Taseko Mines in the third quarter worth $12,260,000. Hatch Cove Capital LLC purchased a new stake in shares of Taseko Mines in the fourth quarter worth $14,773,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Taseko Mines in the fourth quarter worth $11,096,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. 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. Zacks Research upgraded Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a research report on Monday, February 23rd. Finally, Canaccord Genuity Group increased their target price on 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. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Taseko Mines currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Taseko Mines Stock Down 4.9%

TGB opened at $7.43 on Thursday. The stock has a market cap of $2.72 billion, a PE ratio of 247.75 and a beta of 1.25. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88. Taseko Mines Limited has a 52 week low of $2.77 and a 52 week high of $9.25. The business’s fifty day simple moving average is $7.24 and its 200 day simple moving average is $6.92.

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.