Van ECK Associates Corp Has $2.73 Million Stock Holdings in Taseko Mines Limited $TGB

Van ECK Associates Corp increased its holdings in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) by 20.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 396,290 shares of the company’s stock after purchasing an additional 67,174 shares during the quarter. Van ECK Associates Corp’s holdings in Taseko Mines were worth $2,727,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Taseko Mines by 1,009.9% during the first quarter. Royal Bank of Canada now owns 1,512,151 shares of the company’s stock worth $9,753,000 after acquiring an additional 1,375,912 shares in the last quarter. Bank of America Corp DE lifted its position in Taseko Mines by 215.3% in the 1st quarter. Bank of America Corp DE now owns 4,577,781 shares of the company’s stock valued at $29,527,000 after acquiring an additional 3,125,829 shares in the last quarter. Militia Capital Management LLC acquired a new position in Taseko Mines in the 1st quarter worth $1,745,000. Walleye Capital LLC acquired a new position in Taseko Mines in the 1st quarter worth $12,740,000. Finally, TD Asset Management Inc increased its holdings in Taseko Mines by 815.7% during the 4th quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock worth $20,608,000 after purchasing an additional 3,238,558 shares in the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Trading Up 1.0%

Shares of Taseko Mines stock opened at $8.40 on Friday. Taseko Mines Limited has a 12-month low of $3.28 and a 12-month high of $9.82. The stock has a market cap of $3.07 billion, a P/E ratio of 420.21 and a beta of 1.35. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $7.79 and its 200-day moving average is $7.39.

Wall Street Analysts Forecast Growth

TGB has been the topic of several recent research reports. Cantor Fitzgerald raised Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Thursday, May 7th. Jefferies Financial Group assumed coverage on Taseko Mines in a research report on Thursday, August 20th. They set a “buy” rating for the company. Finally, Zacks Research upgraded Taseko Mines from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Taseko Mines presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

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.