Taseko Mines (TSE:TKO) Given New C$13.00 Price Target at National Bank Financial

Key Points

• National Bank Financial raised its price target on Taseko Mines to C$13.00 from C$12.00 and reiterated an outperform rating, implying about 15.66% upside from the current price.
• The stock surged 12.9% on the day to C$11.24, trading near its 12-month high of C$12.47 and above both its 50-day and 200-day moving averages.
• Taseko reported its latest quarterly results with C$0.08 EPS on C$237.09 million in revenue, while recent insider activity included notable share sales by executives Bryce Hamming and Brian Lee Bergot.

Taseko Mines (TSE:TKO - Get Free Report) had its target price boosted by equities research analysts at National Bank Financial from C$12.00 to C$13.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price objective would indicate a potential upside of 15.66% from the company's current price.

Taseko Mines Stock Up 12.9%

TSE TKO traded up C$1.28 on Tuesday, reaching C$11.24. The company had a trading volume of 1,024,078 shares, compared to its average volume of 1,339,687. The stock has a market capitalization of C$4.11 billion, a PE ratio of 224.80 and a beta of 1.87. The firm's 50 day moving average price is C$9.87 and its 200 day moving average price is C$9.82. Taseko Mines has a 12 month low of C$4.09 and a 12 month high of C$12.47.

Taseko Mines (TSE:TKO - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$0.08 EPS for the quarter. The business had revenue of C$237.09 million during the quarter. Taseko Mines had a net margin of 2.00% and a return on equity of 2.27%. On average, research analysts expect that Taseko Mines will post 0.2801932 EPS for the current year.

Insider Buying and Selling

In related news, insider Bryce Hamming sold 50,000 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of C$11.00, for a total transaction of C$550,000.00. Following the sale, the insider owned 120,000 shares of the company's stock, valued at C$1,320,000. This represents a 29.41% decrease in their ownership of the stock. Also, insider Brian Lee Bergot sold 82,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$11.34, for a total transaction of C$929,880.00. Following the transaction, the insider owned 211,811 shares of the company's stock, valued at C$2,401,936.74. This trade represents a 27.91% decrease in their position. Over the last 90 days, insiders have acquired 93,000 shares of company stock worth $325,590. Insiders own 2.58% of the company's stock.

Taseko Mines Company Profile

Taseko Mines Ltd is a Canadian mining company. It is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada, and the State of Arizona, the United States. The Gibraltar, Aley, New Prosperity, and Harmony properties are located in British Columbia whereas Florence copper is in central Arizona.

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