Taseko Mines (TSE:TKO) Upgraded at TD Securities

Key Points

• TD Securities has upgraded Taseko Mines from a "hold" rating to a "buy" rating, raising the target price from C$5.00 to C$6.50, indicating a potential upside of 12.65%.
• Other brokerages such as Paradigm Capital and National Bankshares have also increased their target prices for Taseko Mines, with a consensus rating of "Buy" and an average target price of C$6.33.
• Insider trading activity includes significant sales, with Director Russell Edward Hallbauer selling 30,000 shares and Robert John Rotzinger selling 150,000 shares in recent transactions.

Taseko Mines (TSE:TKO - Get Free Report) was upgraded by investment analysts at TD Securities from a "hold" rating to a "buy" rating in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a C$6.50 target price on the stock, up from their previous target price of C$5.00. TD Securities' target price suggests a potential upside of 12.65% from the stock's previous close.

A number of other brokerages have also issued reports on TKO. Paradigm Capital boosted their target price on shares of Taseko Mines from C$4.50 to C$5.25 and gave the stock a "buy" rating in a research report on Monday, July 7th. National Bankshares boosted their target price on shares of Taseko Mines from C$6.25 to C$7.25 in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat, Taseko Mines currently has a consensus rating of "Buy" and an average target price of C$6.33.

Taseko Mines Stock Performance

Shares of Taseko Mines stock traded up C$0.32 on Thursday, reaching C$5.77. The stock had a trading volume of 906,284 shares, compared to its average volume of 631,053. The business's 50-day moving average price is C$5.15 and its two-hundred day moving average price is C$4.18. Taseko Mines has a fifty-two week low of C$2.38 and a fifty-two week high of C$6.73. The stock has a market cap of C$1.83 billion, a P/E ratio of -57.70 and a beta of 1.74.

Insider Transactions at Taseko Mines

In other Taseko Mines news, Director Russell Edward Hallbauer sold 30,000 shares of the company's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of C$5.89, for a total transaction of C$176,700.00. Following the transaction, the director directly owned 1,802,750 shares in the company, valued at approximately C$10,618,197.50. This represents a 1.64% decrease in their position. Also, insider Robert John Rotzinger sold 150,000 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of C$5.07, for a total transaction of C$759,750.00. Following the transaction, the insider owned 131,958 shares in the company, valued at approximately C$668,367.27. The trade was a 53.20% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 184,500 shares of company stock worth $963,000. Corporate 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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