Taseko Mines (TSE:TKO) Reaches New 12-Month High – What’s Next?

Taseko Mines Ltd. (TSE:TKO)’s share price reached a new 52-week high during trading on Monday . The company traded as high as C$5.92 and last traded at C$5.86, with a volume of 454579 shares changing hands. The stock had previously closed at C$5.65.

Wall Street Analysts Forecast Growth

TKO has been the subject of several research analyst reports. Paradigm Capital increased their target price 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 upped their price objective 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 downgraded shares of Taseko Mines from a “strong-buy” rating to a “hold” rating and increased their price objective for the company from C$3.50 to C$5.00 in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$5.17.

Taseko Mines Stock Performance

The firm has a market capitalization of C$1.87 billion, a PE ratio of -58.90 and a beta of 1.31. The stock’s 50 day simple moving average is C$4.64 and its two-hundred day simple moving average is C$3.87.

Insider Buying and Selling

In related news, Senior Officer Richard James Weymark sold 34,000 shares of the company’s stock in a transaction dated 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, Director Russell Edward Hallbauer sold 15,000 shares of Taseko Mines stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of C$4.80, for a total transaction of C$72,000.00. Insiders have sold 285,100 shares of company stock valued at $1,405,950 in the last quarter. 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.