Tidal Investments LLC Sells 71,550 Shares of Taseko Mines Limited $TGB

Tidal Investments LLC lowered its holdings in Taseko Mines Limited (NYSEAMERICAN:TGB) by 12.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 517,255 shares of the company’s stock after selling 71,550 shares during the quarter. Tidal Investments LLC’s holdings in Taseko Mines were worth $3,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGB. Caitong International Asset Management Co. Ltd acquired a new position in Taseko Mines during the fourth quarter worth $51,000. CHICAGO TRUST Co NA bought a new stake in shares of Taseko Mines during the first quarter worth about $67,000. First United Bank & Trust bought a new stake in shares of Taseko Mines during the first quarter worth about $79,000. Themes Management Co LLC acquired a new position in Taseko Mines during the 4th quarter valued at about $136,000. Finally, FNY Investment Advisers LLC bought a new stake in Taseko Mines during the 2nd quarter worth approximately $165,000. Institutional investors own 17.94% of the company’s stock.

Taseko Mines Trading Down 3.7%

NYSEAMERICAN:TGB opened at $7.84 on Tuesday. Taseko Mines Limited has a 12 month low of $3.53 and a 12 month high of $9.82. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $8.01 and its 200 day moving average is $7.41. The stock has a market capitalization of $2.87 billion, a PE ratio of 392.20 and a beta of 1.35.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TGB shares. Jefferies Financial Group initiated coverage on Taseko Mines in a report on Thursday, August 20th. They issued a “buy” rating on the stock. Zacks Research upgraded Taseko Mines from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Taseko Mines Profile

Taseko Mines Limited is a Canadian mining company focused primarily on the acquisition, development and operation of copper and molybdenum assets. The company’s principal operating asset is the Gibraltar Mine in central British Columbia, which it describes as one of Canada’s largest copper-molybdenum mines. Gibraltar produces copper concentrate and molybdenum concentrate for sale to customers and markets.

Taseko also owns and is advancing the Florence Copper project in Arizona. The project is designed to use an in-situ copper recovery process to produce copper cathodes, allowing copper to be extracted from ore without conventional open-pit mining.