Taseko Mines (TSE:TKO) Reaches New 1-Year High – Should You Buy?

Taseko Mines Ltd. (TSE:TKO) shares reached a new 52-week high on Wednesday . The stock traded as high as C$7.42 and last traded at C$7.33, with a volume of 877545 shares trading hands. The stock had previously closed at C$7.19.

Analysts Set New Price Targets

TKO has been the topic of several research analyst reports. TD Securities upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$5.00 to C$6.50 in a research note on Thursday, October 23rd. National Bankshares increased their price target on shares of Taseko Mines from C$6.25 to C$7.25 in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$6.33.

Taseko Mines Stock Performance

The firm has a 50 day moving average price of C$6.11 and a two-hundred day moving average price of C$4.91. The company has a market capitalization of C$2.65 billion, a P/E ratio of -38.63 and a beta of 1.88.

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

Insider Transactions at Taseko Mines

In related news, insider Robert John Rotzinger sold 150,000 shares of Taseko Mines stock in a transaction dated 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 transaction, the insider directly owned 131,958 shares of the company’s stock, valued at C$668,367.27. This trade represents a 53.20% decrease in their position. Also, Director Russell Edward Hallbauer sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of C$5.89, for a total transaction of C$176,700.00. Following the completion of the transaction, the director 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 ownership of the stock. Insiders have sold a total of 184,500 shares of company stock valued at $963,000 in the last quarter. 2.58% of the stock is currently owned by corporate insiders.

About Taseko Mines

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.