Taseko Mines (LON:TKO) Sets New 12-Month High Following Insider Buying Activity

Taseko Mines Limited (LON:TKO)’s stock price hit a new 52-week high during trading on Monday after an insider bought additional shares in the company. The stock traded as high as GBX 208 ($2.57) and last traded at GBX 208 ($2.57), with a volume of 3434 shares trading hands. The stock had previously closed at GBX 193 ($2.38).

Specifically, insider Anu Dhir bought 8,800 shares of the stock in a transaction dated Friday, April 19th. The stock was acquired at an average price of GBX 348 ($4.30) per share, for a total transaction of £30,624 ($37,826.09). In related news, insider Anu Dhir bought 8,800 shares of the stock in a transaction dated Friday, April 19th. The stock was acquired at an average price of GBX 348 ($4.30) per share, for a total transaction of £30,624 ($37,826.09). Also, insider Robert Dickinson sold 500,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of GBX 336 ($4.15), for a total transaction of £1,680,000 ($2,075,098.81). Insiders own 3.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their target price on shares of Taseko Mines from GBX 220 ($2.72) to GBX 235 ($2.90) and gave the stock a “buy” rating in a research note on Monday, March 25th.

Taseko Mines Price Performance

The stock has a market capitalization of £562.60 million, a price-to-earnings ratio of 9,700.00 and a beta of 2.09. The business’s 50-day simple moving average is GBX 151.19 and its two-hundred day simple moving average is GBX 119.17.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.