Taseko Mines (LON:TKO) Hits New 52-Week High - Should You Buy?

Key Points

• Taseko Mines Limited reached a new 52-week high of GBX 320 ($4.30) during trading, with a recent trading volume of 8,299 shares.
• Analysts from Canaccord Genuity reiterated a "buy" rating for Taseko shares, setting a target price of GBX 340, while the average target price among analysts is GBX 307.50.
• The company operates the Gibraltar Mine, the second largest copper mine in Canada, producing an average of 140 million pounds of copper annually.

Taseko Mines Limited (LON:TKO - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 320 ($4.30) and last traded at GBX 320 ($4.30), with a volume of 8299 shares. The stock had previously closed at GBX 304 ($4.09).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a "buy" rating and set a GBX 340 target price on shares of Taseko Mines in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of GBX 307.50.

Taseko Mines Trading Up 5.3%

The firm has a market cap of £1.01 billion, a PE ratio of -3,200.00 and a beta of 1.92. The stock has a fifty day simple moving average of GBX 250.68 and a two-hundred day simple moving average of GBX 208.66.

Insiders Place Their Bets

In other Taseko Mines news, insider Russell Hallbauer sold 10,000 shares of Taseko Mines stock in a transaction dated Friday, September 12th. The stock was sold at an average price of GBX 493, for a total transaction of £49,300. 2.58% of the stock is owned by insiders.

About Taseko Mines

Taseko Mines is a dynamic and growing mining company focused on the operation and development of copper mines in North America. Headquartered in Vancouver, Taseko operates the state-of-the-art Gibraltar Mine (100% owned), the second largest copper mine in Canada, with a nearly 700-person workforce producing an average of 140 million pounds of copper and 2.5 million pounds of molybdenum per year. In addition to the Yellowhead copper project and the Aley niobium project, Taseko is also advancing the Florence Copper project in Arizona – a near-term copper producer with an unparalleled energy, water and GHG profile per unit of production.

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