Connor Clark & Lunn Investment Management Ltd. Cuts Stock Holdings in Taseko Mines Limited $TGB

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Taseko Mines Limited (NYSEAMERICAN:TGB) by 17.4% during the third quarter, HoldingsChannel.com reports. The fund owned 6,587,663 shares of the company’s stock after selling 1,391,168 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Taseko Mines were worth $27,922,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. CenterBook Partners LP boosted its holdings in shares of Taseko Mines by 0.7% during the 3rd quarter. CenterBook Partners LP now owns 774,437 shares of the company’s stock valued at $3,276,000 after purchasing an additional 5,007 shares during the last quarter. Carrera Capital Advisors increased its holdings in shares of Taseko Mines by 0.8% in the third quarter. Carrera Capital Advisors now owns 706,110 shares of the company’s stock worth $2,987,000 after purchasing an additional 5,425 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Taseko Mines by 19.9% in the first quarter. Focus Partners Wealth now owns 60,200 shares of the company’s stock worth $135,000 after buying an additional 10,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Taseko Mines in the third quarter worth about $49,000. Finally, Geode Capital Management LLC boosted its stake in Taseko Mines by 8.0% during the second quarter. Geode Capital Management LLC now owns 179,245 shares of the company’s stock valued at $564,000 after buying an additional 13,261 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Taseko Mines Stock Down 4.6%

Shares of NYSEAMERICAN TGB opened at $7.01 on Friday. The firm’s 50-day moving average price is $7.57 and its 200-day moving average price is $5.50. The company has a current ratio of 1.50, a quick ratio of 0.92 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -100.13 and a beta of 1.18. Taseko Mines Limited has a 12-month low of $1.67 and a 12-month high of $9.25.

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.