Sona Asset Management US LLC Invests $645,000 in Taseko Mines Limited $TGB

Sona Asset Management US LLC bought a new position in Taseko Mines Limited (NYSEAMERICAN:TGB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 100,000 shares of the company’s stock, valued at approximately $645,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Themes Management Co LLC boosted its position in shares of Taseko Mines by 93.4% in the 1st quarter. Themes Management Co LLC now owns 46,359 shares of the company’s stock valued at $300,000 after purchasing an additional 22,392 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Taseko Mines during the 1st quarter worth about $7,198,000. Renaissance Technologies LLC raised its holdings in Taseko Mines by 4.9% during the 1st quarter. Renaissance Technologies LLC now owns 5,682,070 shares of the company’s stock worth $36,649,000 after buying an additional 267,640 shares during the period. Sei Investments Co. purchased a new stake in Taseko Mines during the first quarter valued at about $698,000. Finally, Walleye Capital LLC purchased a new stake in Taseko Mines during the first quarter valued at about $12,740,000. 17.94% of the stock is owned by institutional investors and hedge funds.

Taseko Mines Price Performance

Shares of Taseko Mines stock opened at $7.00 on Monday. Taseko Mines Limited has a 1 year low of $2.95 and a 1 year high of $9.25. The company has a market cap of $2.56 billion, a P/E ratio of 233.41 and a beta of 1.28. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $7.03 and a 200 day moving average price of $7.21.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald raised shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Thursday, May 7th. Zacks Research raised shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Canaccord Genuity Group lifted 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.