Royal Bank of Canada Has $9.75 Million Stock Position in Taseko Mines Limited $TGB

Royal Bank of Canada increased its stake in shares of Taseko Mines Limited (NYSEAMERICAN:TGB) by 1,009.9% during the first quarter, HoldingsChannel reports. The fund owned 1,512,151 shares of the company’s stock after acquiring an additional 1,375,912 shares during the quarter. Royal Bank of Canada’s holdings in Taseko Mines were worth $9,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. L1 Capital Pty Ltd grew its position in Taseko Mines by 45.2% in the 4th quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock worth $201,190,000 after purchasing an additional 11,066,233 shares during the last quarter. TD Asset Management Inc increased its stake in Taseko Mines by 815.7% during the fourth quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock valued at $20,608,000 after acquiring an additional 3,238,558 shares during the period. Mackenzie Financial Corp lifted its position in shares of Taseko Mines by 78.6% in the 4th quarter. Mackenzie Financial Corp now owns 6,350,898 shares of the company’s stock worth $35,818,000 after acquiring an additional 2,794,210 shares during the period. Hatch Cove Capital LLC acquired a new stake in shares of Taseko Mines during the 4th quarter worth approximately $14,773,000. Finally, Walleye Capital LLC bought a new stake in shares of Taseko Mines during the first quarter valued at approximately $12,740,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TGB shares. Cantor Fitzgerald upgraded shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Thursday, May 7th. Zacks Research upgraded shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Canaccord Genuity Group raised their price objective on shares of Taseko Mines from C$13.50 to C$14.00 and gave the stock 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 Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Taseko Mines Stock Performance

TGB stock opened at $8.32 on Monday. Taseko Mines Limited has a 1-year low of $3.01 and a 1-year high of $9.25. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $7.16 and its 200-day moving average is $7.27. The firm has a market cap of $3.04 billion, a P/E ratio of 416.21 and a beta of 1.31.

Taseko Mines 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.