Taseko Mines (TSE:TKO) Reaches New 52-Week High – Here’s Why

Taseko Mines Ltd. (TSE:TKO)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$7.88 and last traded at C$7.85, with a volume of 465853 shares trading hands. The stock had previously closed at C$7.70.

Analyst Ratings Changes

TKO has been the topic of a number of research reports. TD Securities upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating and upped their price target for the company 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$7.25 to C$8.50 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Taseko Mines presently has a consensus rating of “Buy” and an average price target of C$6.75.

Taseko Mines Price Performance

The company has a fifty day moving average of C$6.71 and a 200-day moving average of C$5.46. The firm has a market cap of C$2.83 billion, a P/E ratio of -41.32 and a beta of 1.80.

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

Insider Buying and Selling at Taseko Mines

In other Taseko Mines news, Director Russell Edward Hallbauer sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of C$5.89, for a total transaction of C$176,700.00. Following the sale, the director owned 1,802,750 shares in the company, valued at C$10,618,197.50. This trade represents a 1.64% decrease in their ownership of the stock. Company insiders own 2.58% of the company’s stock.

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.