Nano Cap New Millennium Growth Fund L P Buys New Shares in Taseko Mines Limited $TGB

Nano Cap New Millennium Growth Fund L P bought a new stake in Taseko Mines Limited (NYSEAMERICAN:TGB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 230,000 shares of the company’s stock, valued at approximately $1,302,000. Taseko Mines accounts for about 1.1% of Nano Cap New Millennium Growth Fund L P’s investment portfolio, making the stock its 27th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Intact Investment Management Inc. grew its holdings in Taseko Mines by 17.8% in the third quarter. Intact Investment Management Inc. now owns 1,035,500 shares of the company’s stock valued at $4,390,000 after purchasing an additional 156,200 shares during the period. PCJ Investment Counsel Ltd. purchased a new stake in Taseko Mines in the third quarter valued at approximately $3,080,000. Montrusco Bolton Investments Inc. purchased a new stake in Taseko Mines in the third quarter valued at approximately $12,260,000. Mudita Advisors LLP grew its holdings in Taseko Mines by 75.4% in the third quarter. Mudita Advisors LLP now owns 2,788,401 shares of the company’s stock valued at $11,795,000 after purchasing an additional 1,198,700 shares during the period. Finally, Alps Advisors Inc. grew its holdings in Taseko Mines by 40.1% in the third quarter. Alps Advisors Inc. now owns 573,846 shares of the company’s stock valued at $2,427,000 after purchasing an additional 164,348 shares during the period. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Taseko Mines Price Performance

TGB opened at $6.58 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.88. Taseko Mines Limited has a 52-week low of $2.01 and a 52-week high of $9.25. The company has a 50 day moving average of $6.92 and a two-hundred day moving average of $6.55. The company has a market cap of $2.41 billion, a P/E ratio of 219.41 and a beta of 1.26.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TGB shares. Zacks Research downgraded shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. TD Securities restated a “buy” rating on shares of Taseko Mines in a report on Monday, February 23rd. Canaccord Genuity Group boosted 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 research note on Tuesday, April 21st. Finally, Cantor Fitzgerald upgraded shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Taseko Mines Company 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.