Talon Metals (TSE:TLO) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• Talon Metals shares rose above their 50-day moving average, reaching C$7.42 and last trading at C$7.38 on volume of 645,028 shares.
• National Bank Financial assigned the stock a C$8.00 price target and an “outperform” rating. Two analysts rate Talon Metals a Buy, with an average target of C$6.50.
• Insiders have been selling shares: company directors and other insiders sold 280,342 shares worth approximately C$1.77 million over the past 90 days, while insiders retain an 18.55% ownership stake.

Talon Metals Corp. (TSE:TLO - Get Free Report) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$5.78 and traded as high as C$7.42. Talon Metals shares last traded at C$7.38, with a volume of 645,028 shares trading hands.

Analyst Upgrades and Downgrades

Separately, National Bank Financial set a C$8.00 price objective on Talon Metals and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$6.50.

Talon Metals Price Performance

The firm has a market capitalization of C$1.19 billion, a PE ratio of -447.11 and a beta of 2.35. The business has a 50-day moving average of C$5.78 and a 200 day moving average of C$6.69. The company has a current ratio of 2.81, a quick ratio of 5.62 and a debt-to-equity ratio of 0.08.

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

Insider Activity at Talon Metals

In other Talon Metals news, Director John David Kaplan sold 7,809 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of C$5.85, for a total value of C$45,682.65. Following the completion of the sale, the director directly owned 80,144 shares of the company's stock, valued at approximately C$468,842.40. This represents a 8.88% decrease in their position. Also, Director David Lee Deisley sold 30,000 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of C$6.34, for a total transaction of C$190,200.00. Following the completion of the sale, the director directly owned 30,000 shares of the company's stock, valued at C$190,200. The trade was a 50.00% decrease in their ownership of the stock. Insiders have sold 280,342 shares of company stock valued at $1,765,524 over the last ninety days. Corporate insiders own 18.55% of the company's stock.

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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