Taseko Mines (LON:TKO) Trading 2.8% Higher - Time to Buy?

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.

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

Wall Street Analysts Forecast Growth

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

Taseko Mines Trading Up 2.8%

The stock has a market cap of £1.29 billion, a price-to-earnings ratio of 15.46 and a beta of 1.92. The stock has a 50-day moving average price of GBX 229.97 and a two-hundred day moving average price of GBX 186.12.

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.