Pinpoint Asset Management Singapore Pte. Ltd. Buys 123,398 Shares of Taseko Mines Limited $TGB

Pinpoint Asset Management Singapore Pte. Ltd. raised its stake in Taseko Mines Limited (NYSEAMERICAN:TGB) by 214.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,064 shares of the company’s stock after acquiring an additional 123,398 shares during the quarter. Pinpoint Asset Management Singapore Pte. Ltd. owned approximately 0.05% of Taseko Mines worth $1,025,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. L1 Capital Pty Ltd lifted its holdings in shares of Taseko Mines by 18.4% in the third quarter. L1 Capital Pty Ltd now owns 24,479,399 shares of the company’s stock worth $107,709,000 after acquiring an additional 3,797,792 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Taseko Mines by 11.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,126,773 shares of the company’s stock worth $34,376,000 after acquiring an additional 854,016 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Taseko Mines by 815.7% in the fourth quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock worth $20,608,000 after acquiring an additional 3,238,558 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Taseko Mines by 121.7% in the third quarter. Mackenzie Financial Corp now owns 3,556,688 shares of the company’s stock worth $15,075,000 after acquiring an additional 1,952,116 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. bought a new position in shares of Taseko Mines in the third quarter worth about $12,260,000. Institutional investors own 17.94% of the company’s stock.

Wall Street Analyst Weigh In

TGB has been the subject of a number of research reports. Zacks Research cut shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Cantor Fitzgerald raised shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price for the company in a report on Thursday, May 7th. TD Securities reiterated a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Finally, Canaccord Genuity Group raised their price objective on shares of Taseko Mines from C$13.50 to C$14.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Taseko Mines Stock Up 9.5%

Shares of NYSEAMERICAN TGB opened at $7.50 on Friday. The company has a 50 day simple moving average of $7.18 and a 200 day simple moving average of $6.84. The firm has a market cap of $2.74 billion, a PE ratio of 250.08 and a beta of 1.25. Taseko Mines Limited has a 1 year low of $2.77 and a 1 year high of $9.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.37 and a quick ratio of 0.76.

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.