Connor Clark & Lunn Investment Management Ltd. Reduces Stock Holdings in Taseko Mines Limited $TGB

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Taseko Mines Limited (NYSE:TGB) by 29.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,978,831 shares of the company’s stock after selling 3,341,032 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 2.52% of Taseko Mines worth $25,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Taseko Mines by 186.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 79,957 shares of the company’s stock valued at $179,000 after acquiring an additional 52,000 shares in the last quarter. Ballentine Partners LLC boosted its stake in Taseko Mines by 147.1% in the 1st quarter. Ballentine Partners LLC now owns 34,046 shares of the company’s stock worth $76,000 after purchasing an additional 20,270 shares in the last quarter. Signaturefd LLC grew its position in Taseko Mines by 12.0% during the 1st quarter. Signaturefd LLC now owns 47,992 shares of the company’s stock worth $108,000 after purchasing an additional 5,154 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Taseko Mines during the 1st quarter valued at approximately $90,000. Finally, TD Asset Management Inc raised its holdings in shares of Taseko Mines by 22.2% in the first quarter. TD Asset Management Inc now owns 4,003,547 shares of the company’s stock worth $8,957,000 after buying an additional 728,241 shares during the last quarter. Institutional investors and hedge funds own 17.94% of the company’s stock.

Taseko Mines Price Performance

Shares of TGB opened at $4.40 on Monday. The business’s 50-day moving average is $3.98 and its two-hundred day moving average is $3.24. The company has a market capitalization of $1.58 billion, a P/E ratio of -146.67 and a beta of 1.24. Taseko Mines Limited has a fifty-two week low of $1.67 and a fifty-two week high of $4.84. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.05 and a current ratio of 1.71.

Wall Street Analysts Forecast Growth

TGB has been the topic of a number of research analyst reports. TD Securities lowered shares of Taseko Mines from a “strong-buy” rating to a “hold” rating and boosted their price objective for the company from $3.50 to $5.00 in a report on Wednesday, July 16th. BMO Capital Markets reiterated an “outperform” rating on shares of Taseko Mines in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Taseko Mines Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company’s principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.