Taseko Mines Limited (TGB) Stock Struggled as Copper Prices Fell From Recent Highs

Diamond Hill Capital Management, an investment advisor, released its “Small Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The second quarter was challenging for US stocks and the Russell 2000 Index fell by more than 17%. The volatile market condition affected the fund’s portfolio performance; however, the fund performed better compared to the Russell 2000 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Diamond Hill Capital Management discussed stocks like Taseko Mines Limited (NYSE:TGB). Headquartered in Vancouver, Canada, Taseko Mines Limited (NYSE:TGB)  is a mining company. On September 2, 2022, Taseko Mines Limited (NYSE:TGB) stock closed at $1.0300 per share. One-month return of Taseko Mines Limited (NYSE:TGB)  was -1.90% and its shares lost 46.63% of their value over the last 52 weeks. Taseko Mines Limited (NYSE:TGB)  has a market capitalization of $290.446 million.

Here is what Diamond Hill Capital Management specifically said about Taseko Mines Limited (NYSE:TGB):

“Shares of Taseko Mines Limited (NYSE:TGB), a copper miner operating in the US and Canada, were weak as copper prices retreated from prior highs. Commodities prices in general spiked in Q1 on supply concerns related to Russia’s invasion of Ukraine.”

Taseko Mines Limited (NYSE:TGB) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Taseko Mines Limited (NYSE:TGB) was held by 4 hedge fund portfolios at the end of the second quarter compared to 6 in the previous quarter.

We discussed Taseko Mines Limited (NYSE:TGB) in another article and shared Diamond Hill Capital’s views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

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