Taseko Mines (LON:TKO) Stock Price Up 2.8% - Here's Why

Key Points

• Taseko Mines Limited's stock price rose by 2.8% to GBX 238.40 ($3.17), despite an unusual trading volume of only 14 shares compared to an average of 6,435 shares.
• Analyst firm Canaccord Genuity Group maintained a "buy" rating for Taseko Mines with a target price of GBX 290 ($3.86).
• Taseko Mines operates the Gibraltar Mine, the second largest copper mine in Canada, producing approximately 140 million pounds of copper annually.

Shares of Taseko Mines Limited (LON:TKO - Get Free Report) were up 2.8% during trading on Tuesday . The stock traded as high as GBX 238.40 ($3.21) and last traded at GBX 238.40 ($3.21). Approximately 14 shares changed hands during trading, a decline of 100% from the average daily volume of 6,435 shares. The stock had previously closed at GBX 232 ($3.12).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 340 ($4.57) price target on shares of Taseko Mines in a research note on Thursday.

Taseko Mines Price Performance

The firm has a market capitalization of £1.29 billion, a PE ratio of 15.46 and a beta of 1.92. The business has a 50-day simple moving average of GBX 228.49 and a 200-day simple moving average of GBX 185.65.

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.