National Bank Financial Reiterates "C$8.00" Price Target for Talon Metals (TSE:TLO)

Key Points

• National Bank Financial reiterated an “outperform” rating on Talon Metals and set a C$8.00 price target, implying about 35% upside from the prior close.
• Talon Metals shares rose 11.5% to C$5.92 in Tuesday trading, though volume was below average.
• Recent company and insider data showed modest quarterly earnings of C$0.01 per share, while several directors sold shares in the past three months.

Talon Metals (TSE:TLO - Get Free Report) has been given a C$8.00 price objective by National Bank Financial in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the mining company's stock. National Bank Financial's price objective would indicate a potential upside of 35.14% from the company's previous close.

Talon Metals Stock Up 11.5%

Talon Metals stock traded up C$0.61 during mid-day trading on Tuesday, reaching C$5.92. The company's stock had a trading volume of 499,099 shares, compared to its average volume of 702,217. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.62 and a current ratio of 2.81. Talon Metals has a 12 month low of C$2.50 and a 12 month high of C$9.25. The business's 50 day simple moving average is C$6.22 and its 200 day simple moving average is C$6.76. The company has a market capitalization of C$953.34 million, a price-to-earnings ratio of -358.66 and a beta of 2.31.

Talon Metals (TSE:TLO - Get Free Report) last announced its quarterly earnings results on Friday, May 15th. The mining company reported C$0.01 earnings per share for the quarter. The business had revenue of C$65.27 million for the quarter. As a group, research analysts anticipate that Talon Metals will post 0.01 earnings per share for the current year.

Insider Transactions at Talon Metals

In related news, Director John David Kaplan sold 7,809 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of C$5.85, for a total transaction of C$45,682.65. Following the sale, the director owned 80,144 shares in the company, valued at approximately C$468,842.40. This trade represents a 8.88% decrease in their position. Also, Director David Lee Deisley sold 30,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of C$6.34, for a total value of C$190,200.00. Following the completion of the sale, the director directly owned 30,000 shares in the company, valued at approximately C$190,200. This represents a 50.00% decrease in their position. In the last three months, insiders have sold 280,342 shares of company stock valued at $1,765,524. 18.55% of the stock is owned by corporate insiders.

Talon Metals Company Profile

Talon Metals Corp., a mineral exploration company, explores for and develops mineral properties in the United States. It owns an 18.45% interest is the Tamarack nickel-copper-PGE project located in Minnesota, the United States; and a 100% interest in the Trairão iron project located in Brazil. The company is headquartered in Road Town, the British Virgin Islands.

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