Is Taseko Mines (TGB) A Smart Long-Term Buy?

Diamond Hill Capital, an investment management firm, published its “Diamond Hill Small Cap Fund” third-quarter 2021 investor letter – a copy of which can be downloaded here. The portfolio outpaced the Russell 2000® Index in the quarter, delivering nearly a 2% positive return against the index’s negative return and adding to year-to-date outperformance.  You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Diamond Hill Small Cap Fund, in its Q3 2021 investor letter, mentioned Taseko Mines Limited (NYSE: TGB) and discussed its stance on the firm. Taseko Mines Limited is a Vancouver, Canada-based copper mining company with a $565 million market capitalization. TGB delivered a 50.76% return since the beginning of the year, while its 12-month returns are up by 139.53%. The stock closed at $1.99 per share on November 19, 2021.

Here is what Diamond Hill Small Cap Fund has to say about Taseko Mines Limited  in its Q3 2021 investor letter:

“We added just one new holding to the portfolio in Q3, Taseko Mines. Taseko is a small copper miner based in Canada and the U.S. Copper is a key industrial input, particularly for green technologies. As demand for electrification and construction globally increases, the supply of new copper-producing projects has lagged. This supply/demand dynamic has created an attractive opportunity to invest in a strong business oriented toward strengthening end markets.”

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Based on our calculations, Taseko Mines Limited (NYSE: TGB) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. TGB was in 6 hedge fund portfolios at the end of the first half of 2021, compared to 6 funds in the previous quarter. Taseko Mines Limited (NYSE: TGB) delivered a 30.07% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.