Taseko Mines (LON:TKO) Reaches New 1-Year High - What's Next?

Key Points

• Taseko Mines Limited (LON:TKO) reached a new 52-week high, trading at GBX 345 ($4.59) with a volume of 15,803 shares.
• Canaccord Genuity Group maintains a "buy" rating for Taseko Mines and has set a price target of GBX 340, indicating positive sentiment among analysts.
• The company has a market capitalization of £1.09 billion and is primarily focused on the operation of copper mines in North America, including the significant Gibraltar Mine.

Taseko Mines Limited (LON:TKO - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 345 ($4.59) and last traded at GBX 345 ($4.59), with a volume of 15803 shares. The stock had previously closed at GBX 310 ($4.12).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 340 price target on shares of Taseko Mines in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of GBX 307.50.

Taseko Mines Stock Up 11.3%

The company has a market capitalization of £1.09 billion, a PE ratio of -3,450.00 and a beta of 1.92. The stock has a 50-day moving average of GBX 259.13 and a 200 day moving average of GBX 214.96.

Insider Activity at Taseko Mines

In related news, insider Russell Hallbauer sold 10,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of GBX 493, for a total transaction of £49,300. Insiders own 2.58% of the company's stock.

Taseko Mines Company Profile

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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