Taseko Mines (TSE:TKO) Reaches New 1-Year High - Here's Why

Key Points

• Taseko Mines Ltd. achieved a new 52-week high, trading at C$5.10, with a recent close of C$4.98 and a trading volume of 516,766 shares.
• Brokerages have raised their price target for Taseko, with Paradigm Capital and National Bankshares both setting it at C$5.25, while TD Securities raised theirs to C$5.00 but downgraded the rating to "hold."
• Insider transactions show that significant share sales occurred, including 49,000 shares sold by insiders in the last quarter, representing 2.58% of the stock owned by corporate insiders.

Taseko Mines Ltd. (TSE:TKO - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as C$5.10 and last traded at C$4.98, with a volume of 516766 shares. The stock had previously closed at C$4.94.

Wall Street Analyst Weigh In

Several brokerages recently commented on TKO. Paradigm Capital boosted their price target on shares of Taseko Mines from C$4.50 to C$5.25 and gave the stock a "buy" rating in a report on Monday, July 7th. National Bankshares boosted their price target on shares of Taseko Mines from C$4.50 to C$5.25 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Finally, TD Securities lowered shares of Taseko Mines from a "strong-buy" rating to a "hold" rating and boosted their price target for the stock from C$3.50 to C$5.00 in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of C$5.17.

Taseko Mines Stock Up 1.6%

The stock's 50-day simple moving average is C$4.54 and its 200 day simple moving average is C$3.73. The company has a market cap of C$1.59 billion, a price-to-earnings ratio of -50.20 and a beta of 1.31.

Insider Transactions at Taseko Mines

In other news, Director Russell Edward Hallbauer sold 15,000 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of C$4.80, for a total transaction of C$72,000.00. Also, Senior Officer Richard James Weymark sold 34,000 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of C$4.91, for a total transaction of C$166,940.00. Over the last quarter, insiders have sold 185,100 shares of company stock valued at $856,200. 2.58% of the stock is currently owned by corporate insiders.

About Taseko Mines

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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