Koenig Investment Advisory LLC Cuts Position in Taseko Mines Limited $TGB

Koenig Investment Advisory LLC reduced its stake in Taseko Mines Limited (NYSEAMERICAN:TGB) by 78.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 45,468 shares of the company’s stock after selling 170,454 shares during the period. Taseko Mines comprises 0.3% of Koenig Investment Advisory LLC’s holdings, making the stock its 28th largest position. Koenig Investment Advisory LLC’s holdings in Taseko Mines were worth $405,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of Taseko Mines by 1,009.9% during the first quarter. Royal Bank of Canada now owns 1,512,151 shares of the company’s stock valued at $9,753,000 after purchasing an additional 1,375,912 shares in the last quarter. Bank of America Corp DE raised its holdings in Taseko Mines by 215.3% in the first quarter. Bank of America Corp DE now owns 4,577,781 shares of the company’s stock worth $29,527,000 after purchasing an additional 3,125,829 shares in the last quarter. Militia Capital Management LLC bought a new position in Taseko Mines in the first quarter worth $1,745,000. Susquehanna Advisors Group Inc. purchased a new position in Taseko Mines during the second quarter valued at $615,000. Finally, Renaissance Technologies LLC lifted its position in Taseko Mines by 4.9% during the first quarter. Renaissance Technologies LLC now owns 5,682,070 shares of the company’s stock valued at $36,649,000 after buying an additional 267,640 shares during the period. 17.94% of the stock is owned by institutional investors.

Taseko Mines Stock Up 7.2%

Shares of Taseko Mines stock traded up $0.59 on Friday, reaching $8.90. The company’s stock had a trading volume of 1,783,716 shares, compared to its average volume of 5,906,449. Taseko Mines Limited has a 52 week low of $3.66 and a 52 week high of $9.82. The firm’s fifty day simple moving average is $8.58 and its two-hundred day simple moving average is $7.58. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 445.47 and a beta of 1.41.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TGB. Jefferies Financial Group began coverage on shares of Taseko Mines in a report on Thursday, August 20th. They set a “buy” rating on the stock. Zacks Research raised shares of Taseko Mines from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Taseko Mines Company Profile

Taseko Mines Limited is a Canadian mining company engaged in the acquisition, development, and operation of copper and other mineral properties. The company is headquartered in Vancouver, British Columbia, and its shares trade on the Toronto Stock Exchange under the symbol TKO and on the NYSE American under the symbol TGB.

Taseko’s principal asset is the Gibraltar Mine in central British Columbia, one of Canada’s largest open-pit copper and molybdenum mines. The operation produces copper concentrate, with molybdenum as a byproduct, and has been in production since the 1970s.