Taseko Mines Limited (NYSE:TGB) Stock Holdings Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in shares of Taseko Mines Limited (NYSE:TGB) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,026 shares of the company’s stock after selling 30,036 shares during the period. JPMorgan Chase & Co. owned approximately 0.08% of Taseko Mines worth $600,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tidal Investments LLC raised its stake in Taseko Mines by 82.3% during the 3rd quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock valued at $34,507,000 after acquiring an additional 6,182,981 shares in the last quarter. Barclays PLC raised its stake in shares of Taseko Mines by 353.3% in the 3rd quarter. Barclays PLC now owns 79,323 shares of the company’s stock worth $200,000 after buying an additional 61,823 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Taseko Mines by 2,033.2% in the 3rd quarter. Toronto Dominion Bank now owns 52,242 shares of the company’s stock worth $132,000 after buying an additional 49,793 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Taseko Mines in the 3rd quarter worth $223,000. Finally, Quantinno Capital Management LP bought a new stake in shares of Taseko Mines in the 3rd quarter worth $38,000. Institutional investors own 17.94% of the company’s stock.

Taseko Mines Stock Performance

Shares of NYSE TGB opened at $1.89 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $575.84 million, a price-to-earnings ratio of 9.95 and a beta of 1.72. The stock’s fifty day simple moving average is $2.02 and its 200 day simple moving average is $2.17. Taseko Mines Limited has a 52-week low of $1.33 and a 52-week high of $3.15.

Taseko Mines (NYSE:TGB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%. The business had revenue of $114.08 million for the quarter, compared to analysts’ expectations of $112.48 million. As a group, sell-side analysts forecast that Taseko Mines Limited will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TGB. StockNews.com raised Taseko Mines from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. National Bank Financial upgraded Taseko Mines from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $3.50.

Taseko Mines 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.