Temasek Holdings Private Ltd Purchases New Shares in Taseko Mines Limited $TGB

Temasek Holdings Private Ltd acquired a new stake in Taseko Mines Limited (NYSEAMERICAN:TGB) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 423,901 shares of the company’s stock, valued at approximately $2,739,000.

A number of other large investors have also modified their holdings of TGB. L1 Capital Pty Ltd grew its position in shares of Taseko Mines by 45.2% during the 4th quarter. L1 Capital Pty Ltd now owns 35,545,632 shares of the company’s stock valued at $201,190,000 after acquiring an additional 11,066,233 shares during the period. TD Asset Management Inc increased its stake in shares of Taseko Mines by 815.7% in the 4th quarter. TD Asset Management Inc now owns 3,635,594 shares of the company’s stock valued at $20,608,000 after purchasing an additional 3,238,558 shares in the last quarter. Mackenzie Financial Corp raised its holdings in 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 purchasing an additional 2,794,210 shares during the period. Hatch Cove Capital LLC acquired a new position in Taseko Mines in the 4th quarter worth about $14,773,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Taseko Mines during the fourth quarter worth approximately $11,096,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on TGB shares. Canaccord Genuity Group raised their price objective on Taseko Mines from C$13.50 to C$14.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Cantor Fitzgerald raised Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Thursday, May 7th. Finally, Zacks Research upgraded Taseko Mines from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Taseko Mines has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Taseko Mines Stock Performance

NYSEAMERICAN:TGB opened at $7.72 on Wednesday. The company has a market cap of $2.82 billion, a P/E ratio of 257.42 and a beta of 1.28. Taseko Mines Limited has a twelve month low of $2.95 and a twelve month high of $9.25. The company’s 50-day moving average price is $7.04 and its 200-day moving average price is $7.18. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.88.

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.