Simcoe Capital LLC Acquires New Shares in Taseko Mines Limited $TGB

Simcoe Capital LLC acquired a new stake in Taseko Mines Limited (NYSEAMERICAN:TGB) in the fourth quarter, Holdings Channel.com reports. The firm acquired 573,022 shares of the company’s stock, valued at approximately $3,243,000. Taseko Mines makes up approximately 3.1% of Simcoe Capital LLC’s portfolio, making the stock its 17th biggest position.

Several other large investors have also recently bought and sold shares of the company. Swiss Life Asset Management Ltd boosted its holdings in Taseko Mines by 130.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 33,258 shares of the company’s stock valued at $188,000 after purchasing an additional 18,826 shares during the period. Nkcfo LLC bought a new position in Taseko Mines in the 4th quarter valued at $113,000. Pekin Hardy Strauss Inc. bought a new position in Taseko Mines in the 4th quarter valued at $226,000. Pictet Asset Management Holding SA boosted its holdings in Taseko Mines by 27.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 66,740 shares of the company’s stock valued at $378,000 after purchasing an additional 14,494 shares during the period. Finally, UBS Group AG boosted its holdings in Taseko Mines by 249.4% in the 4th quarter. UBS Group AG now owns 808,856 shares of the company’s stock valued at $4,578,000 after purchasing an additional 577,352 shares during the period. 17.94% of the stock is owned by institutional investors.

Taseko Mines Stock Performance

NYSEAMERICAN TGB opened at $7.93 on Wednesday. Taseko Mines Limited has a 52-week low of $1.96 and a 52-week high of $9.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.92 and a current ratio of 1.37. The company has a market capitalization of $2.90 billion, a P/E ratio of 264.42 and a beta of 1.26. The company has a fifty day moving average of $7.04 and a 200-day moving average of $6.42.

Wall Street Analyst Weigh In

TGB has been the subject of several analyst reports. Canaccord Genuity Group raised their price target 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. TD Securities reaffirmed a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Zacks Research downgraded 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 price objective for the company in a report on Thursday, May 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Taseko Mines in a report on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.