Koenig Investment Advisory LLC Invests $1.42 Million in Taseko Mines Limited $TGB

Koenig Investment Advisory LLC bought a new position in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 250,826 shares of the company’s stock, valued at approximately $1,420,000. Taseko Mines comprises approximately 1.2% of Koenig Investment Advisory LLC’s investment portfolio, making the stock its 16th biggest position. Koenig Investment Advisory LLC owned approximately 0.07% of Taseko Mines as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TGB. Caitong International Asset Management Co. Ltd acquired a new stake in Taseko Mines in the 4th quarter valued at $35,000. Ausdal Financial Partners Inc. acquired a new position in shares of Taseko Mines during the 2nd quarter worth about $52,000. Swiss Life Asset Management Ltd acquired a new position in shares of Taseko Mines during the 3rd quarter worth about $61,000. Marex Group plc bought a new position in shares of Taseko Mines in the 4th quarter valued at about $61,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Taseko Mines in the 3rd quarter valued at about $61,000. Institutional investors own 17.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TGB. Zacks Research upgraded Taseko Mines from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Canaccord Genuity Group raised their price target on Taseko Mines from C$13.50 to C$14.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. 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 note on Thursday, May 7th. Finally, TD Securities reaffirmed a “buy” rating on shares of Taseko Mines in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Taseko Mines Stock Performance

Shares of TGB stock opened at $7.14 on Friday. The company has a fifty day moving average price of $7.24 and a two-hundred day moving average price of $6.93. Taseko Mines Limited has a one year low of $2.77 and a one year high of $9.25. The stock has a market cap of $2.61 billion, a P/E ratio of 238.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.37 and a quick ratio of 0.76.

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.