Renaissance Technologies LLC Grows Stake in Taseko Mines Limited $TGB

Renaissance Technologies LLC increased its stake in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) by 4.9% in the 1st quarter, Holdings Channel reports. The firm owned 5,682,070 shares of the company’s stock after purchasing an additional 267,640 shares during the period. Renaissance Technologies LLC’s holdings in Taseko Mines were worth $36,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TGB. Dynamic Technology Lab Private Ltd purchased a new position in Taseko Mines in the 1st quarter valued at about $65,000. Goldman Sachs Group Inc. raised its holdings in shares of Taseko Mines by 198.9% during the first quarter. Goldman Sachs Group Inc. now owns 988,072 shares of the company’s stock valued at $2,213,000 after acquiring an additional 657,477 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Taseko Mines by 10.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,541,741 shares of the company’s stock valued at $3,454,000 after acquiring an additional 146,154 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 valued at $135,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Taseko Mines by 8.0% in the second quarter. Geode Capital Management LLC now owns 179,245 shares of the company’s stock valued at $564,000 after acquiring an additional 13,261 shares in the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Taseko Mines Stock Up 1.6%

Shares of TGB opened at $7.11 on Tuesday. Taseko Mines Limited has a 52-week low of $2.95 and a 52-week high of $9.25. The company has a market capitalization of $2.60 billion, a PE ratio of 237.08 and a beta of 1.28. The stock has a fifty day simple moving average of $7.05 and a two-hundred day simple moving average of $7.22. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88.

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.