Connor Clark & Lunn Investment Management Ltd. Purchases 620,706 Shares of Taseko Mines Limited (NYSEAMERICAN:TGB)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Taseko Mines Limited (NYSEAMERICAN:TGB) (TSE:TKO) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,231,740 shares of the mining company’s stock after acquiring an additional 620,706 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 2.55% of Taseko Mines worth $15,166,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC bought a new stake in Taseko Mines in the first quarter valued at approximately $25,000. HRT Financial LP bought a new position in shares of Taseko Mines during the 1st quarter worth approximately $28,000. Commonwealth Equity Services LLC bought a new position in shares of Taseko Mines during the 1st quarter worth approximately $33,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Taseko Mines by 56.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 21,965 shares of the mining company’s stock worth $37,000 after buying an additional 7,956 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in shares of Taseko Mines by 6,000.0% during the 1st quarter. Jacobi Capital Management LLC now owns 30,500 shares of the mining company’s stock worth $52,000 after buying an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 18.91% of the company’s stock.

NYSEAMERICAN:TGB opened at $1.82 on Friday. The stock has a market cap of $516.65 million, a PE ratio of 60.69 and a beta of 2.49. The company has a current ratio of 3.25, a quick ratio of 2.73 and a debt-to-equity ratio of 1.61. Taseko Mines Limited has a twelve month low of $0.78 and a twelve month high of $2.67. The firm has a 50-day simple moving average of $1.20.

Taseko Mines (NYSEAMERICAN:TGB) (TSE:TKO) last announced its quarterly earnings data on Wednesday, August 4th. The mining company reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. The company had revenue of $90.36 million for the quarter. Taseko Mines had a negative return on equity of 2.66% and a net margin of 2.47%. As a group, equities analysts expect that Taseko Mines Limited will post 0.16 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on TGB shares. TheStreet lowered Taseko Mines from a “c-” rating to a “d+” rating in a research report on Thursday, July 15th. National Bank Financial lowered their target price on Taseko Mines from C$3.25 to C$3.00 and set a “sector perform” rating on the stock in a research report on Friday, August 6th. Scotiabank lowered their target price on Taseko Mines from C$3.00 to C$2.75 and set a “sector perform” rating on the stock in a research report on Friday, August 6th. Finally, Zacks Investment Research raised Taseko Mines from a “sell” rating to a “hold” rating in a research report on Friday, August 20th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.67.

About Taseko Mines

Taseko Mines Ltd. operates as a mining company, which engages in the acquisition, development, and operation of mineral deposits. It holds interest in Gibraltar, Florence Copper, Aley Niobium, Yellowhead, New Prosperity, and Harmony projects. The company was founded on April 15, 1966 and is headquartered in Vancouver, Canada.

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Institutional Ownership by Quarter for Taseko Mines (NYSEAMERICAN:TGB)

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