Pinpoint Asset Management Singapore Pte. Ltd. Has $1.03 Million Stake in Taseko Mines Limited $TGB

Pinpoint Asset Management Singapore Pte. Ltd. grew its position in Taseko Mines Limited (NYSEAMERICAN:TGB) by 214.0% during the fourth quarter, HoldingsChannel reports. The firm owned 181,064 shares of the company’s stock after buying an additional 123,398 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in Taseko Mines were worth $1,025,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Northwest & Ethical Investments L.P. acquired a new stake in shares of Taseko Mines during the fourth quarter worth $92,000. HRT Financial LP acquired a new stake in shares of Taseko Mines during the fourth quarter worth $398,000. Sprott Inc. acquired a new stake in shares of Taseko Mines during the fourth quarter worth $508,000. Marex Group plc acquired a new stake in shares of Taseko Mines during the fourth quarter worth $61,000. Finally, Global IMC LLC increased its position in shares of Taseko Mines by 8.9% during the fourth quarter. Global IMC LLC now owns 40,538 shares of the company’s stock worth $230,000 after buying an additional 3,320 shares during the period. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TGB has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Thursday, May 7th. Zacks Research cut shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a research report on Monday, February 23rd. Finally, Canaccord Genuity Group increased their price objective on shares of Taseko Mines from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Taseko Mines has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Taseko Mines Stock Performance

Shares of TGB stock opened at $7.50 on Friday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 250.08 and a beta of 1.25. Taseko Mines Limited has a 52 week low of $2.77 and a 52 week high of $9.25. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $7.18 and a 200-day moving average of $6.84.

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.