BNP Paribas Financial Markets Purchases 1,166,259 Shares of Taseko Mines Limited $TGB

BNP Paribas Financial Markets boosted its position in Taseko Mines Limited (NYSEAMERICAN:TGB) by 270.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,597,333 shares of the company’s stock after buying an additional 1,166,259 shares during the quarter. BNP Paribas Financial Markets’ holdings in Taseko Mines were worth $9,041,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in Taseko Mines in the third quarter valued at approximately $49,000. Ausdal Financial Partners Inc. bought a new position in Taseko Mines in the second quarter valued at approximately $52,000. Swiss Life Asset Management Ltd bought a new position in Taseko Mines in the third quarter valued at approximately $61,000. Brevan Howard Capital Management LP bought a new position in Taseko Mines in the third quarter valued at approximately $61,000. Finally, SIH Partners LLLP bought a new position in Taseko Mines in the third quarter valued at approximately $62,000. 17.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. TD Securities reissued a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. Canaccord Genuity Group boosted their target price 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. Cantor Fitzgerald raised shares of Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Thursday, May 7th. Finally, Zacks Research cut shares of Taseko Mines from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Taseko Mines presently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Taseko Mines Stock Performance

NYSEAMERICAN TGB opened at $6.74 on Tuesday. The firm’s fifty day moving average price is $7.13 and its two-hundred day moving average price is $6.79. The stock has a market cap of $2.46 billion, a PE ratio of 224.74 and a beta of 1.25. Taseko Mines Limited has a fifty-two week low of $2.77 and a fifty-two week high of $9.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 1.37.

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.