Here’s Why Taseko Mines Limited (TGB) Outperformed in Q4
Diamond Hill Capital, an investment management company, released its “Small Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 6.98% net of fees, outperforming the benchmark Russell 2000 Index, which returned 6.23%. Strength in health care, consumer discretionary, and materials holdings contributed to the fund’s outperformance in the quarter while holdings in energy and information technology detracted from the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Diamond Hill Capital highlighted stocks like Taseko Mines Limited (NYSE:TGB) in its Q4 2022 investor letter. Headquartered in Vancouver, Canada, Taseko Mines Limited (NYSE:TGB) is a mining company that explores copper, molybdenum, gold, niobium, and silver deposits. On January 26, 2023, Taseko Mines Limited (NYSE:TGB) stock closed at $1.8000 per share. One-month return of Taseko Mines Limited (NYSE:TGB) was 22.45%, and its shares lost 2.70% of their value over the last 52 weeks. Taseko Mines Limited (NYSE:TGB) has a market capitalization of $520.544 million.
Diamond Hill Capital made the following comment about Taseko Mines Limited (NYSE:TGB) in its Q4 2022 investor letter:
"We have held Canada-based copper miner Taseko Mines Limited (NYSE:TGB) for its attractive positioning as one of the only small copper miners operating in the US. The combination of low inventories relative to historical levels and still-low copper prices allows Taseko to capitalize on rising copper prices —as they did in Q4. The public comment period for Taseko’s second active mine in Florence, Arizona, also ended successfully in October, and the business capped off the year by announcing an attractive development partnership for Florence, bringing clarity for investors."
Photo by Ricardo Gomez Angel on Unsplash
Taseko Mines Limited (NYSE:TGB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 4 hedge fund portfolios held Taseko Mines Limited (NYSE:TGB) at the end of the third quarter, which was 4 in the previous quarter.
We discussed Taseko Mines Limited (NYSE:TGB) in another article and shared the list of best penny stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
