Vertex One Asset Management Inc. trimmed its position in Taseko Mines Ltd (NYSEAMERICAN:TGB) (TSE:TKO) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,977,374 shares of the mining company’s stock after selling 325,200 shares during the quarter. Taseko Mines accounts for 4.0% of Vertex One Asset Management Inc.’s portfolio, making the stock its 5th largest position. Vertex One Asset Management Inc.’s holdings in Taseko Mines were worth $23,336,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in Taseko Mines by 65.1% during the fourth quarter. Acadian Asset Management LLC now owns 8,643,207 shares of the mining company’s stock worth $20,140,000 after acquiring an additional 3,407,837 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in Taseko Mines by 358.3% during the third quarter. Hillsdale Investment Management Inc. now owns 3,718,800 shares of the mining company’s stock worth $6,979,000 after acquiring an additional 2,907,300 shares in the last quarter. Greystone Managed Investments Inc. raised its stake in Taseko Mines by 39.6% during the third quarter. Greystone Managed Investments Inc. now owns 3,653,450 shares of the mining company’s stock worth $6,836,000 after acquiring an additional 1,037,300 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in Taseko Mines during the third quarter worth $1,175,000. Finally, Alliancebernstein L.P. raised its stake in Taseko Mines by 396.5% during the fourth quarter. Alliancebernstein L.P. now owns 705,641 shares of the mining company’s stock worth $1,644,000 after acquiring an additional 563,521 shares in the last quarter.
A number of analysts have recently weighed in on TGB shares. Scotiabank upgraded Taseko Mines from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, March 6th. Cantor Fitzgerald started coverage on Taseko Mines in a research note on Friday, January 26th. They issued a “buy” rating for the company. Finally, Zacks Investment Research lowered Taseko Mines from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Taseko Mines has a consensus rating of “Buy” and a consensus price target of $2.50.
Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last posted its quarterly earnings results on Wednesday, February 21st. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.10). The firm had revenue of $95.40 million during the quarter, compared to the consensus estimate of $89.30 million. Taseko Mines had a negative net margin of 7.97% and a negative return on equity of 8.19%. Taseko Mines’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 EPS.
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Taseko Mines Company Profile
Taseko Mines Limited is a mining company. The Company is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada and the State of Arizona, the United States. Its projects represent a range of metals, including gold, copper and niobium.
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