Taseko Mines (TSE:TKO) Reaches New 52-Week High - Should You Buy?

Key Points

• Taseko Mines reached a new 52-week high, trading as high as C$12.62 and last changing hands at C$12.49, up from a prior close of C$12.27.
• Analyst sentiment remains positive: National Bank Financial raised its price target to C$13.00, while the broader analyst consensus is a “Buy” rating with an average target of C$13.17.
• The company reported C$0.11 in quarterly earnings per share and C$330.55 million in revenue, though profitability was modest with a 1.60% net margin; insider activity was mixed, featuring both a purchase and a significant sale.

Taseko Mines Ltd. (TSE:TKO - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$12.62 and last traded at C$12.49, with a volume of 67099 shares. The stock had previously closed at C$12.27.

Analysts Set New Price Targets

Separately, National Bank Financial lifted their price objective on Taseko Mines from C$12.00 to C$13.00 and gave the company an "outperform" rating in a report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$13.17.

Taseko Mines Stock Up 0.7%

The company has a market cap of C$4.52 billion, a price-to-earnings ratio of 411.67 and a beta of 1.86. The business has a fifty day simple moving average of C$10.10 and a 200 day simple moving average of C$10.10.

Taseko Mines (TSE:TKO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.11 earnings per share for the quarter. The business had revenue of C$330.55 million for the quarter. Taseko Mines had a net margin of 1.60% and a return on equity of 2.09%. Equities analysts anticipate that Taseko Mines Ltd. will post 0.2801932 EPS for the current fiscal year.

Insider Activity

In related news, insider Terry James Morris bought 11,000 shares of the company's stock in a transaction on Thursday, May 21st. The stock was bought at an average cost of C$8.97 per share, with a total value of C$98,670.00. Following the completion of the acquisition, the insider owned 11,000 shares in the company, valued at approximately C$98,670. This represents a ∞ increase in their position. Also, insider Brian Lee Bergot sold 82,000 shares of Taseko Mines stock in a transaction that occurred 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 sale, the insider owned 211,811 shares of the company's stock, valued at approximately C$2,401,936.74. The trade was a 27.91% decrease in their ownership of the stock. Insiders have acquired 93,000 shares of company stock worth $325,590 over the last 90 days. 2.58% of the stock is currently owned by company 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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