Taseko Mines (TSE:TKO) Trading Up 16.4% - Still a Buy?

Key Points

• Taseko Mines shares surged 16.4% to C$11.01, with trading volume 53% above the average session level.
• National Bank Financial raised its price target from C$12.00 to C$13.00 and reaffirmed an “outperform” rating. Three analysts rate the stock a Buy, with an average target of C$13.17.
• The company reported quarterly revenue of C$237.09 million and earnings of C$0.08 per share, while insider activity was mixed: one insider bought 11,000 shares and another sold 50,000 shares.

Taseko Mines Ltd. (TSE:TKO - Get Free Report)'s share price rose 16.4% on Tuesday . The stock traded as high as C$11.05 and last traded at C$11.01. 2,048,210 shares were traded during mid-day trading, an increase of 53% from the average session volume of 1,341,448 shares. The stock had previously closed at C$9.46.

Analysts Set New Price Targets

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

Taseko Mines Stock Up 16.4%

The company has a market capitalization of C$4.03 billion, a PE ratio of 220.20 and a beta of 1.86. The company's 50 day moving average is C$9.96 and its two-hundred day moving average is C$10.03.

Taseko Mines (TSE:TKO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.08 earnings per share for the quarter. Taseko Mines had a return on equity of 2.27% and a net margin of 2.00%.The firm had revenue of C$237.09 million during the quarter. Analysts forecast that Taseko Mines Ltd. will post 0.2801932 EPS for the current year.

Insider Buying and Selling at Taseko Mines

In other news, insider Terry James Morris acquired 11,000 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of C$8.97 per share, with a total value of C$98,670.00. Following the acquisition, the insider directly owned 11,000 shares of the company's stock, valued at approximately C$98,670. The trade was a ∞ increase in their ownership of the stock. Also, insider Bryce Hamming sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of C$11.00, for a total value of C$550,000.00. Following the transaction, the insider owned 120,000 shares of the company's stock, valued at C$1,320,000. This represents a 29.41% decrease in their ownership of the stock. Insiders bought 93,000 shares of company stock worth $325,590 in the last quarter. 2.58% of the stock is owned by corporate 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.

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