Diamond Hill Capital Management Inc. Trims Stock Holdings in Taseko Mines Limited $TGB

Diamond Hill Capital Management Inc. trimmed its position in Taseko Mines Limited (NYSEAMERICAN:TGB) by 21.2% in the 4th quarter, Holdings Channel reports. The firm owned 4,236,208 shares of the company’s stock after selling 1,142,408 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Taseko Mines were worth $23,977,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Intact Investment Management Inc. boosted its holdings in Taseko Mines by 17.8% in the 3rd quarter. Intact Investment Management Inc. now owns 1,035,500 shares of the company’s stock valued at $4,390,000 after purchasing an additional 156,200 shares during the period. PCJ Investment Counsel Ltd. bought a new stake in shares of Taseko Mines during the 3rd quarter worth $3,080,000. Montrusco Bolton Investments Inc. purchased a new position in Taseko Mines in the 3rd quarter worth $12,260,000. Mudita Advisors LLP raised its position in Taseko Mines by 75.4% in the 3rd quarter. Mudita Advisors LLP now owns 2,788,401 shares of the company’s stock worth $11,795,000 after purchasing an additional 1,198,700 shares during the period. Finally, Alps Advisors Inc. raised its position in Taseko Mines by 40.1% in the 3rd quarter. Alps Advisors Inc. now owns 573,846 shares of the company’s stock worth $2,427,000 after purchasing an additional 164,348 shares during the period. 17.94% of the stock is owned by institutional investors.

Taseko Mines Price Performance

Shares of TGB opened at $6.58 on Friday. The company has a market capitalization of $2.41 billion, a P/E ratio of 219.41 and a beta of 1.26. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88. Taseko Mines Limited has a twelve month low of $2.01 and a twelve month high of $9.25. The firm has a 50 day moving average of $6.92 and a 200 day moving average of $6.55.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Zacks Research cut shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Canaccord Genuity Group lifted their target price 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. Cantor Fitzgerald upgraded 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, TD Securities restated a “buy” rating on shares of Taseko Mines in a research report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Taseko Mines has a consensus rating of “Moderate Buy” and an average price target of $7.00.

About Taseko Mines

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.