Taseko Mines (LON:TKO) Trading 2.1% Higher - What's Next?

Key Points

• Taseko Mines Limited stock increased by 2.1% to GBX 233.74 ($3.16) but experienced a significant drop in trading volume, down 73% from its average.
• Canaccord Genuity has maintained a "buy" rating for Taseko Mines, with a price target of GBX 340, and the stock currently holds a consensus rating of "Buy" with a target price of GBX 307.50.
• The company operates the Gibraltar Mine, Canada’s second-largest copper mine, and is also advancing multiple projects, including the Florence Copper project in Arizona.

Shares of Taseko Mines Limited (LON:TKO - Get Free Report) shot up 2.1% during trading on Thursday . The company traded as high as GBX 233.74 ($3.16) and last traded at GBX 233.74 ($3.16). 1,631 shares were traded during trading, a decline of 73% from the average session volume of 6,130 shares. The stock had previously closed at GBX 229 ($3.09).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a "buy" rating and set a GBX 340 price objective 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, Taseko Mines currently has an average rating of "Buy" and an average target price of GBX 307.50.

Taseko Mines Trading Up 2.8%

The business has a 50 day moving average of GBX 240.59 and a 200-day moving average of GBX 194.40. The stock has a market cap of £753.05 million, a PE ratio of -1,135.24 and a beta of 1.92.

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.