Taseko Mines (LON:TKO) Trading Down 2.1% - Time to Sell?

Key Points

• Taseko Mines Limited's shares dropped by 2.1% during mid-day trading, currently priced at GBX 333 ($4.45), with a significant increase in trading volume.
• Canaccord Genuity Group has reaffirmed a "buy" rating on the stock with a target price of GBX 340, while the average target price remains at GBX 307.50.
• Insider Russell Hallbauer sold 10,000 shares at an average price of GBX 493, indicating insider activity amidst fluctuations in share prices.

Taseko Mines Limited (LON:TKO - Get Free Report)'s share price was down 2.1% during mid-day trading on Friday . The company traded as low as GBX 333 ($4.45) and last traded at GBX 333 ($4.45). Approximately 13,963 shares were traded during mid-day trading, an increase of 129% from the average daily volume of 6,097 shares. The stock had previously closed at GBX 340 ($4.54).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 340 price objective on shares of Taseko Mines in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of GBX 307.50.

Taseko Mines Trading Down 2.1%

The stock's fifty day moving average is GBX 261.07 and its 200 day moving average is GBX 215.92. The company has a market capitalization of £1.05 billion, a P/E ratio of -3,330.00 and a beta of 1.92.

Insider Buying and Selling

In related news, insider Russell Hallbauer sold 10,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of GBX 493, for a total transaction of £49,300. 2.58% of the stock is owned by corporate insiders.

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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