CIBC Asset Management Inc Acquires New Holdings in Taseko Mines Limited $TGB

CIBC Asset Management Inc acquired a new position in Taseko Mines Limited (NYSEAMERICAN:TGB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 331,978 shares of the company’s stock, valued at approximately $1,880,000.

A number of other hedge funds also recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its holdings in shares of Taseko Mines by 270.5% in the 4th quarter. BNP Paribas Financial Markets now owns 1,597,333 shares of the company’s stock valued at $9,041,000 after acquiring an additional 1,166,259 shares during the period. Geode Capital Management LLC lifted its stake in shares of Taseko Mines by 32.0% during the 4th quarter. Geode Capital Management LLC now owns 247,533 shares of the company’s stock worth $1,432,000 after purchasing an additional 60,034 shares during the last quarter. Themes Management Co LLC purchased a new stake in shares of Taseko Mines during the 4th quarter worth $136,000. Nano Cap New Millennium Growth Fund L P bought a new stake in Taseko Mines during the fourth quarter valued at about $1,302,000. Finally, Banque Cantonale Vaudoise boosted its position in Taseko Mines by 140.0% during the fourth quarter. Banque Cantonale Vaudoise now owns 57,600 shares of the company’s stock valued at $326,000 after purchasing an additional 33,600 shares in the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Taseko Mines Stock Up 1.4%

Shares of TGB stock opened at $6.74 on Tuesday. Taseko Mines Limited has a 1-year low of $2.77 and a 1-year high of $9.25. The stock’s fifty day moving average price is $7.13 and its 200 day moving average price is $6.79. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.37 and a quick ratio of 0.76. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 224.74 and a beta of 1.25.

Wall Street Analyst Weigh In

TGB has been the subject of a number of recent research reports. Zacks Research downgraded shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. TD Securities restated a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Cantor Fitzgerald raised shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group boosted 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 note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Taseko Mines presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

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.