Point72 Asset Management L.P. Purchases Shares of 63,900 Taseko Mines Limited (NYSE:TGB)

Point72 Asset Management L.P. acquired a new stake in shares of Taseko Mines Limited (NYSE:TGB) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 63,900 shares of the company’s stock, valued at approximately $157,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Millennium Management LLC raised its position in Taseko Mines by 11.3% during the second quarter. Millennium Management LLC now owns 1,349,795 shares of the company’s stock valued at $3,315,000 after acquiring an additional 136,932 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Taseko Mines by 58.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 97,497 shares of the company’s stock worth $239,000 after purchasing an additional 36,010 shares during the period. Bank of Montreal Can increased its holdings in shares of Taseko Mines by 5.3% during the 2nd quarter. Bank of Montreal Can now owns 796,458 shares of the company’s stock valued at $2,131,000 after purchasing an additional 40,053 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of Taseko Mines by 990.3% in the 2nd quarter. XTX Topco Ltd now owns 164,510 shares of the company’s stock valued at $403,000 after purchasing an additional 149,421 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Taseko Mines by 14.7% during the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock worth $14,465,000 after buying an additional 755,192 shares in the last quarter. Institutional investors and hedge funds own 17.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald upgraded shares of Taseko Mines to a “strong-buy” rating in a research report on Thursday, June 13th.

Taseko Mines Stock Up 3.9 %

Shares of TGB opened at $2.64 on Friday. The firm has a market cap of $783.26 million, a P/E ratio of 11.00 and a beta of 1.74. Taseko Mines Limited has a 12 month low of $1.05 and a 12 month high of $3.15. The stock’s 50 day moving average is $2.20 and its two-hundred day moving average is $2.37. The company has a current ratio of 2.09, a quick ratio of 1.34 and a debt-to-equity ratio of 1.57.

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

Taseko Mines Company Profile

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.