Talon Metals (TSE:TLO) Shares Up 16.9% - Here's What Happened

Key Points

• Talon Metals shares surged 16.9% to C$5.88 in mid-day trading, up from a previous close of C$5.03, although trading volume was 57% below the daily average.
• National Bank Financial set an C$8.00 price target and an “outperform” rating. The stock has a consensus “Buy” rating from two analysts and an average price target of C$6.50.
• Company insiders sold 280,342 shares worth approximately $1.77 million during the last quarter, including significant sales by directors John David Kaplan and Gregory Stephen Kinross.

Talon Metals Corp. (TSE:TLO - Get Free Report) shot up 16.9% during mid-day trading on Tuesday . The company traded as high as C$5.89 and last traded at C$5.88. 285,840 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 672,147 shares. The stock had previously closed at C$5.03.

Wall Street Analyst Weigh In

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 MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$6.50.

Talon Metals Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.81 and a quick ratio of 5.62. The firm has a fifty day moving average of C$5.78 and a two-hundred day moving average of C$6.67. The stock has a market capitalization of C$972.67 million, a P/E ratio of -365.93 and a beta of 2.31.

Talon Metals (TSE:TLO - Get Free Report) last released its quarterly earnings data 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 during the quarter. On average, analysts predict that Talon Metals Corp. will post 0.01 EPS for the current year.

Insider Transactions at Talon Metals

In related news, Director John David Kaplan sold 7,809 shares of Talon Metals 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 transaction, the director directly owned 80,144 shares of the company's stock, valued at C$468,842.40. This trade represents a 8.88% decrease in their ownership of the stock. Also, Director Gregory Stephen Kinross sold 50,100 shares of Talon Metals stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of C$6.30, for a total transaction of C$315,630.00. Following the transaction, the director directly owned 500 shares in the company, valued at approximately C$3,150. The trade was a 99.01% decrease in their ownership of the stock. In the last quarter, insiders sold 280,342 shares of company stock valued at $1,765,524. Company 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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