JPMorgan Chase & Co. Sells 974,835 Shares of Taseko Mines Limited $TGB

JPMorgan Chase & Co. decreased its position in Taseko Mines Limited (NYSEAMERICAN:TGB) by 24.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,044,462 shares of the company’s stock after selling 974,835 shares during the period. JPMorgan Chase & Co.’s holdings in Taseko Mines were worth $12,878,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Swiss Life Asset Management Ltd bought a new position in shares of Taseko Mines during the third quarter worth about $61,000. Cantor Fitzgerald L. P. bought a new stake in Taseko Mines in the 3rd quarter valued at approximately $518,000. CANADA LIFE ASSURANCE Co lifted its stake in Taseko Mines by 24.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 819,042 shares of the company’s stock valued at $3,443,000 after acquiring an additional 158,362 shares in the last quarter. Voleon Capital Management LP acquired a new position in Taseko Mines during the 3rd quarter worth approximately $660,000. Finally, Wexford Capital LP acquired a new position in Taseko Mines during the 3rd quarter worth approximately $1,058,000. 17.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TGB. BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a report on Wednesday, January 14th. TD Securities restated a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Taseko Mines has an average rating of “Buy” and an average price target of $5.00.

Taseko Mines Price Performance

NYSEAMERICAN:TGB opened at $5.98 on Friday. Taseko Mines Limited has a 52-week low of $1.67 and a 52-week high of $9.25. The company has a market cap of $2.18 billion, a P/E ratio of -85.42 and a beta of 1.18. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.92 and a current ratio of 1.50. The stock’s 50-day simple moving average is $7.52 and its 200 day simple moving average is $5.72.

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.