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

Key Points

• Taseko Mines Ltd. reached a new 52-week high of C$5.21 during trading, closing at C$5.19 with a volume of 140,076 shares.
• Analysts have varying ratings on Taseko Mines, with one Strong Buy, two Buy, and one Hold, while the average price target is C$5.17.
• Insider selling activity has been significant, with executives selling a total of 335,100 shares valued at approximately C$1.62 million over the last quarter.

Taseko Mines Ltd. (TSE:TKO - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$5.21 and last traded at C$5.19, with a volume of 140076 shares. The stock had previously closed at C$5.17.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Paradigm Capital raised their price objective on Taseko Mines from C$4.50 to C$5.25 and gave the stock a "buy" rating in a research note on Monday, July 7th. TD Securities lowered Taseko Mines from a "strong-buy" rating to a "hold" rating and raised their target price for the stock from C$3.50 to C$5.00 in a report on Wednesday, July 16th. Finally, National Bankshares raised their target price on Taseko Mines from C$4.50 to C$5.25 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$5.17.

Taseko Mines Trading Up 1.5%

The company has a fifty day simple moving average of C$4.56 and a 200-day simple moving average of C$3.79. The company has a market capitalization of C$1.66 billion, a PE ratio of -52.50 and a beta of 1.31.

Insider Transactions at Taseko Mines

In other news, Senior Officer Trevor Thomas sold 35,000 shares of Taseko Mines stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of C$4.92, for a total value of C$172,200.00. Also, insider Robert John Rotzinger sold 150,000 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of C$5.07, for a total value of C$759,750.00. Following the completion of the transaction, the insider directly owned 131,958 shares in the company, valued at C$668,367.27. This trade represents a 53.20% decrease in their position. Over the last quarter, insiders have sold 335,100 shares of company stock valued at $1,615,950. Insiders own 2.58% of the company's stock.

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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