Koenig Investment Advisory LLC Invests $1.42 Million in Taseko Mines Limited $TGB

Koenig Investment Advisory LLC bought a new position in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 250,826 shares of the company’s stock, valued at approximately $1,420,000. Taseko Mines comprises about 1.2% of Koenig Investment Advisory LLC’s portfolio, making the stock its 16th biggest holding.

A number of other large investors have also added to or reduced their stakes in the business. L1 Capital Pty Ltd lifted its holdings in Taseko Mines by 45.2% during the 4th quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock valued at $201,190,000 after purchasing an additional 11,066,233 shares during the last quarter. TD Asset Management Inc increased its holdings 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 valued at $20,608,000 after purchasing an additional 3,238,558 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new position in shares of Taseko Mines in the third quarter valued at about $12,260,000. Mackenzie Financial Corp raised its position in shares of Taseko Mines by 78.6% in the fourth quarter. Mackenzie Financial Corp now owns 6,350,898 shares of the company’s stock valued at $35,818,000 after purchasing an additional 2,794,210 shares during the period. Finally, Hatch Cove Capital LLC bought a new position in shares of Taseko Mines in the fourth quarter valued at about $14,773,000. Institutional investors own 17.94% of the company’s stock.

Taseko Mines Price Performance

Shares of NYSEAMERICAN TGB opened at $7.14 on Friday. The business has a fifty day moving average price of $7.24 and a two-hundred day moving average price of $6.93. The stock has a market capitalization of $2.61 billion, a PE ratio of 238.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.37 and a quick ratio of 0.76. Taseko Mines Limited has a fifty-two week low of $2.77 and a fifty-two week high of $9.25.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Cantor Fitzgerald raised shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price for the company in a report on Thursday, May 7th. Canaccord Genuity Group increased their price target on shares of Taseko Mines from C$13.50 to C$14.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. TD Securities reissued a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.00.

About Taseko Mines

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.