Taseko Mines (TSE:TKO) Stock Price Down 3% - Here's Why

Key Points

• Down 3%: Taseko Mines shares fell to C$9.88 on Tuesday (intraday low C$9.69) with 983,042 shares traded, a 34% drop versus average volume.
• Analyst sentiment bullish: Four analysts rate the stock a "Buy" with a consensus target of C$11.13, and recent price-target raises from Canaccord (to C$13.50) and TD Securities (to C$13.00).
• Mixed fundamentals and insider activity: the company reported C$0.02 EPS on C$243.77M revenue but posted a negative net margin of -4.47% and negative ROE, while insiders sold 85,000 shares (70,000 by Richard Weymark and 15,000 by Trevor Thomas).

Taseko Mines Ltd. (TSE:TKO - Get Free Report)'s stock price traded down 3% during trading on Tuesday . The stock traded as low as C$9.69 and last traded at C$9.88. 983,042 shares changed hands during trading, a decline of 34% from the average session volume of 1,492,608 shares. The stock had previously closed at C$10.19.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Taseko Mines from C$12.75 to C$13.50 and gave the stock a "buy" rating in a research note on Friday, February 20th. TD Securities lifted their price objective on shares of Taseko Mines from C$12.00 to C$13.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Finally, National Bank Financial lowered their price objective on shares of Taseko Mines from C$13.50 to C$12.75 and set an "outperform" rating for the company in a research note on Friday, February 20th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Taseko Mines currently has an average rating of "Buy" and a consensus target price of C$11.13.

Taseko Mines Stock Down 3.0%

The company has a market capitalization of C$3.61 billion, a price-to-earnings ratio of -109.78 and a beta of 2.19. The business's 50-day moving average is C$9.86 and its 200-day moving average is C$8.60.

Taseko Mines (TSE:TKO - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported C$0.02 earnings per share (EPS) for the quarter. The company had revenue of C$243.77 million during the quarter. Taseko Mines had a negative net margin of 4.47% and a negative return on equity of 5.02%. As a group, analysts expect that Taseko Mines Ltd. will post 0.2801932 EPS for the current year.

Insiders Place Their Bets

In other Taseko Mines news, insider Richard James Weymark sold 70,000 shares of Taseko Mines stock in a transaction on Friday, January 30th. The shares were sold at an average price of C$10.50, for a total value of C$735,000.00. Also, insider Trevor Thomas sold 15,000 shares of Taseko Mines stock in a transaction on Thursday, January 29th. The shares were sold at an average price of C$11.56, for a total transaction of C$173,400.00. Following the completion of the transaction, the insider directly owned 120,000 shares of the company's stock, valued at C$1,387,200. The trade was a 11.11% decrease in their position. 2.58% of the stock is currently owned by 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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