Taseko Mines (TSE:TKO) Hits New 12-Month High – What’s Next?

Taseko Mines Ltd. (TSE:TKO) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$6.73 and last traded at C$6.73, with a volume of 644175 shares. The stock had previously closed at C$6.44.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Securities upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$5.00 to C$6.50 in a research note on Thursday, October 23rd. National Bankshares lifted their price target on Taseko Mines from C$6.25 to C$7.25 in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$6.33.

Taseko Mines Price Performance

The stock has a market cap of C$2.42 billion, a PE ratio of -67.30 and a beta of 1.88. The company’s fifty day moving average is C$5.62 and its 200-day moving average is C$4.53.

Insider Activity

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

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.