Taseko Mines (TSE:TKO) Hits New 52-Week High After Analyst Upgrade

Taseko Mines Ltd. (TSE:TKO) reached a new 52-week high during trading on Friday after National Bankshares raised their price target on the stock from C$7.25 to C$8.50. National Bankshares currently has an outperform rating on the stock. Taseko Mines traded as high as C$7.66 and last traded at C$7.43, with a volume of 499013 shares traded. The stock had previously closed at C$7.50.

Separately, TD Securities upgraded Taseko Mines from a “hold” rating to a “buy” rating and raised their target price for the company from C$5.00 to C$6.50 in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Taseko Mines currently has a consensus rating of “Buy” and a consensus price target of C$6.75.

Insider Activity

In other Taseko Mines news, insider Robert John Rotzinger sold 150,000 shares of Taseko Mines stock in a transaction on Thursday, September 18th. The shares were sold at an average price of C$5.07, for a total transaction of C$759,750.00. Following the completion of the sale, the insider owned 131,958 shares of the company’s stock, valued at approximately C$668,367.27. The trade was a 53.20% decrease in their position. Also, Director Russell Edward Hallbauer sold 30,000 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of C$5.89, for a total value of C$176,700.00. Following the completion of the transaction, the director directly owned 1,802,750 shares in the company, valued at approximately C$10,618,197.50. This trade represents a 1.64% decrease in their position. Insiders sold a total of 184,500 shares of company stock worth $963,000 in the last ninety days. Insiders own 2.58% of the company’s stock.

Taseko Mines Stock Down 0.1%

The business has a fifty day moving average of C$6.36 and a 200 day moving average of C$5.15. The firm has a market cap of C$2.70 billion, a P/E ratio of -39.42 and a beta of 1.80.

Taseko Mines (TSE:TKO) last posted its earnings results on Thursday, November 13th. The company reported C$0.02 earnings per share (EPS) for the quarter. The company had revenue of C$173.91 million during the quarter. Taseko Mines had a return on equity of 16.33% and a net margin of 12.69%. On average, sell-side analysts expect that Taseko Mines Ltd. will post 0.2801932 EPS for the current fiscal year.

Taseko Mines Company Profile

Taseko Mines Ltd is a Canadian mining company. It is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada, and the State of Arizona, the United States. The Gibraltar, Aley, New Prosperity, and Harmony properties are located in British Columbia whereas Florence copper is in central Arizona.