Van ECK Associates Corp Buys 67,174 Shares of Taseko Mines Limited $TGB

Van ECK Associates Corp boosted its position in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) by 20.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 396,290 shares of the company’s stock after buying an additional 67,174 shares during the quarter. Van ECK Associates Corp owned approximately 0.11% of Taseko Mines worth $2,727,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Taseko Mines during the fourth quarter worth $35,000. Ausdal Financial Partners Inc. bought a new position in Taseko Mines in the second quarter valued at about $52,000. Marex Group plc acquired a new stake in Taseko Mines in the fourth quarter worth about $61,000. Brevan Howard Capital Management LP acquired a new stake in Taseko Mines in the third quarter worth about $61,000. Finally, SIH Partners LLLP bought a new stake in Taseko Mines during the 3rd quarter worth about $62,000. 17.94% of the stock is currently owned by institutional investors.

Taseko Mines Stock Up 1.0%

Shares of NYSEAMERICAN:TGB opened at $8.40 on Friday. Taseko Mines Limited has a 52 week low of $3.28 and a 52 week high of $9.82. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.76 and a current ratio of 1.24. The company has a market capitalization of $3.07 billion, a PE ratio of 420.21 and a beta of 1.35. The company has a 50 day moving average price of $7.79 and a two-hundred day moving average price of $7.39.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TGB. Jefferies Financial Group began coverage on shares of Taseko Mines in a research report on Thursday, August 20th. They set a “buy” rating on the stock. Zacks Research upgraded shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Cantor Fitzgerald raised shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Taseko Mines 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.