Taseko Mines Limited $TGB Stake Raised by UBS Group AG

UBS Group AG increased its holdings in Taseko Mines Limited (NYSEAMERICAN:TGB) by 249.4% in the 4th quarter, Holdings Channel reports. The fund owned 808,856 shares of the company’s stock after purchasing an additional 577,352 shares during the period. UBS Group AG’s holdings in Taseko Mines were worth $4,578,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. U S Global Investors Inc. purchased a new stake in Taseko Mines in the 4th quarter worth about $566,000. Evergreen Capital Management LLC lifted its stake in Taseko Mines by 58.9% in the 4th quarter. Evergreen Capital Management LLC now owns 61,125 shares of the company’s stock worth $346,000 after acquiring an additional 22,661 shares in the last quarter. Prairiewood Capital LLC lifted its stake in Taseko Mines by 14.3% in the 4th quarter. Prairiewood Capital LLC now owns 16,000 shares of the company’s stock worth $91,000 after acquiring an additional 2,000 shares in the last quarter. BIP Wealth LLC purchased a new stake in Taseko Mines in the 4th quarter worth about $89,000. Finally, Blue Trust Inc. purchased a new stake in Taseko Mines in the 4th quarter worth about $112,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

Taseko Mines Stock Performance

Shares of TGB stock opened at $6.57 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.37 and a quick ratio of 0.76. Taseko Mines Limited has a fifty-two week low of $2.06 and a fifty-two week high of $9.25. The stock’s 50-day moving average is $6.91 and its two-hundred day moving average is $6.55. The firm has a market cap of $2.40 billion, a P/E ratio of 219.07 and a beta of 1.26.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TGB. Zacks Research downgraded Taseko Mines from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. TD Securities reissued a “buy” rating on shares of Taseko Mines in a research note on Monday, February 23rd. Cantor Fitzgerald raised Taseko Mines from a “buy” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group upped their target price on Taseko Mines from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Taseko Mines 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.