Connor Clark & Lunn Investment Management Ltd. Sells 1,391,168 Shares of Taseko Mines Limited $TGB

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Taseko Mines Limited (NYSEAMERICAN:TGB) by 17.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,587,663 shares of the company’s stock after selling 1,391,168 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.83% of Taseko Mines worth $27,922,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. L1 Capital Pty Ltd grew its holdings in Taseko Mines by 64.0% during the second quarter. L1 Capital Pty Ltd now owns 20,681,607 shares of the company’s stock valued at $65,148,000 after purchasing an additional 8,072,986 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Taseko Mines by 261.5% in the second quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company’s stock worth $12,661,000 after buying an additional 2,907,611 shares during the period. Mackenzie Financial Corp lifted its position in shares of Taseko Mines by 121.7% during the 3rd quarter. Mackenzie Financial Corp now owns 3,556,688 shares of the company’s stock valued at $15,075,000 after buying an additional 1,952,116 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new position in shares of Taseko Mines during the 3rd quarter valued at approximately $12,260,000. Finally, Bank of America Corp DE grew its stake in shares of Taseko Mines by 67.0% during the 2nd quarter. Bank of America Corp DE now owns 1,868,650 shares of the company’s stock valued at $5,886,000 after acquiring an additional 749,390 shares during the period. 17.94% of the stock is owned by institutional investors.

Taseko Mines Price Performance

Shares of Taseko Mines stock opened at $7.01 on Friday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -100.13 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The stock’s 50-day simple moving average is $7.57 and its 200-day simple moving average is $5.50. Taseko Mines Limited has a 52 week low of $1.67 and a 52 week high of $9.25.

Analysts Set New Price Targets

A number of research firms have commented on TGB. TD Securities restated a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $5.00.

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.