Taseko Mines Limited $TGB Stock: Montrusco Bolton Investments Inc. Cuts Position

Montrusco Bolton Investments Inc. lessened its position in Taseko Mines Limited (NYSEAMERICAN:TGB) by 5.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,578,107 shares of the company’s stock after selling 162,028 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Taseko Mines were worth $22,953,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TGB. Caitong International Asset Management Co. Ltd acquired a new position in shares of Taseko Mines during the fourth quarter worth about $51,000. CHICAGO TRUST Co NA acquired a new stake in Taseko Mines in the first quarter valued at about $67,000. First United Bank & Trust purchased a new stake in Taseko Mines in the 1st quarter valued at approximately $79,000. FNY Investment Advisers LLC acquired a new position in Taseko Mines during the 2nd quarter worth approximately $165,000. Finally, Rehmann Capital Advisory Group acquired a new position in Taseko Mines during the 4th quarter worth approximately $283,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Taseko Mines Price Performance

Shares of NYSEAMERICAN TGB traded down $0.15 during midday trading on Tuesday, hitting $8.56. The company had a trading volume of 3,598,372 shares, compared to its average volume of 5,881,363. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.85. Taseko Mines Limited has a twelve month low of $3.66 and a twelve month high of $9.82. The business has a 50-day simple moving average of $8.65 and a two-hundred day simple moving average of $7.62. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 428.21 and a beta of 1.41.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TGB shares. Zacks Research raised Taseko Mines from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Jefferies Financial Group started coverage on Taseko Mines in a research note on Thursday, August 20th. They issued a “buy” rating on the stock. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.00.

Taseko Mines Profile

Taseko Mines Limited is a Canadian mining company engaged in the acquisition, development, and operation of copper and other mineral properties. The company is headquartered in Vancouver, British Columbia, and its shares trade on the Toronto Stock Exchange under the symbol TKO and on the NYSE American under the symbol TGB.

Taseko’s principal asset is the Gibraltar Mine in central British Columbia, one of Canada’s largest open-pit copper and molybdenum mines. The operation produces copper concentrate, with molybdenum as a byproduct, and has been in production since the 1970s.