Taseko Mines (TSE:TKO) Stock Price Up 2.3% - Should You Buy?

Key Points

• Taseko Mines Ltd. (TSE:TKO) shares rose by 2.3% to C$4.48, despite a 45% drop in trading volume compared to its average.
• Brokerages have mixed ratings for the stock, with TD Securities downgrading it from "strong-buy" to "hold," while Paradigm Capital and National Bankshares set higher price targets of C$5.25.
• In recent insider trading, director Russell Edward Hallbauer sold 51,100 shares at an average price of C$4.60, indicating potential caution from insiders.

Taseko Mines Ltd. (TSE:TKO - Get Free Report) shares were up 2.3% during mid-day trading on Monday . The stock traded as high as C$4.49 and last traded at C$4.48. Approximately 329,469 shares changed hands during trading, a decline of 45% from the average daily volume of 600,834 shares. The stock had previously closed at C$4.38.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Paradigm Capital lifted their price target on Taseko Mines from C$4.50 to C$5.25 and gave the company a "buy" rating in a research report on Monday, July 7th. National Bankshares lifted their target price on shares of Taseko Mines from C$4.50 to C$5.25 and gave the stock an "outperform" rating in a research 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 target price for the company from C$3.50 to C$5.00 in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of C$5.17.

Taseko Mines Price Performance

The stock has a market cap of C$1.50 billion, a PE ratio of -47.20 and a beta of 1.34. The company's fifty day moving average is C$4.47 and its 200-day moving average is C$3.62.

Insider Activity at Taseko Mines

In other Taseko Mines news, Senior Officer Richard James Weymark sold 34,000 shares of Taseko Mines stock in a transaction on Thursday, July 10th. The shares were sold at an average price of C$4.91, for a total value of C$166,940.00. Also, Senior Officer Trevor Thomas sold 35,000 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$4.92, for a total value of C$172,200.00. Over the last quarter, insiders have sold 185,100 shares of company stock worth $856,200. 2.58% of the stock is owned by company insiders.

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.