Cibc World Market Inc. Acquires 97,084 Shares of Taseko Mines Limited $TGB

Cibc World Market Inc. boosted its holdings in shares of Taseko Mines Limited (NYSE:TGB) by 59.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,518 shares of the company’s stock after acquiring an additional 97,084 shares during the quarter. Cibc World Market Inc.’s holdings in Taseko Mines were worth $1,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Taseko Mines during the third quarter valued at $49,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Taseko Mines in the second quarter valued at $52,000. Ausdal Financial Partners Inc. bought a new position in Taseko Mines during the 2nd quarter worth $52,000. Dynamic Technology Lab Private Ltd bought a new position in Taseko Mines during the 1st quarter worth $65,000. Finally, State of Wyoming acquired a new position in Taseko Mines during the 2nd quarter worth about $81,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Price Performance

Shares of NYSE TGB opened at $7.97 on Wednesday. The company has a market capitalization of $2.90 billion, a PE ratio of -265.67 and a beta of 1.25. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. Taseko Mines Limited has a twelve month low of $1.67 and a twelve month high of $9.25. The firm has a fifty day simple moving average of $6.75 and a 200 day simple moving average of $4.97.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reissued an “outperform” rating on shares of Taseko Mines in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $5.00.

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. The Florence Copper project in Arizona employs an in‐situ recovery process to extract copper, positioning it as one of North America’s first large‐scale applications of this technology.