Taseko Mines Limited (NYSE:TGB) Stock Holdings Increased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in shares of Taseko Mines Limited (NYSE:TGB) by 14.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,904,270 shares of the company’s stock after acquiring an additional 755,192 shares during the period. Renaissance Technologies LLC owned approximately 2.02% of Taseko Mines worth $14,465,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Taseko Mines by 87.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 491,388 shares of the company’s stock valued at $1,204,000 after acquiring an additional 229,849 shares in the last quarter. American Century Companies Inc. increased its position in shares of Taseko Mines by 752.2% during the 2nd quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock valued at $1,734,000 after purchasing an additional 621,352 shares during the period. ClariVest Asset Management LLC acquired a new position in shares of Taseko Mines during the 2nd quarter valued at $1,192,000. Keystone Wealth Services LLC acquired a new position in shares of Taseko Mines during the 2nd quarter valued at $37,000. Finally, Tidal Investments LLC acquired a new position in shares of Taseko Mines during the 1st quarter valued at $3,508,000. Institutional investors own 17.94% of the company’s stock.

Taseko Mines Stock Performance

Shares of NYSE TGB opened at $2.26 on Friday. The company has a quick ratio of 1.34, a current ratio of 2.09 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $660.78 million, a price-to-earnings ratio of 9.42 and a beta of 1.74. The stock’s fifty day simple moving average is $2.14 and its 200 day simple moving average is $2.32. Taseko Mines Limited has a 52-week low of $1.05 and a 52-week high of $3.15.

Taseko Mines (NYSE:TGB) last issued its earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $100.66 million for the quarter, compared to analysts’ expectations of $88.01 million. Taseko Mines had a return on equity of 18.82% and a net margin of 13.07%. As a group, sell-side analysts forecast that Taseko Mines Limited will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald upgraded Taseko Mines to a “strong-buy” rating in a research report on Thursday, June 13th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $3.50.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.