Taseko Mines (TSE:TKO) Reaches New 52-Week High – Time to Buy?

Shares of Taseko Mines Ltd. (TSE:TKO) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$6.73 and last traded at C$6.73, with a volume of 644175 shares traded. The stock had previously closed at C$6.44.

Analyst Ratings Changes

TKO has been the subject of several recent analyst reports. TD Securities upgraded Taseko Mines from a “hold” rating to a “buy” rating and lifted their price target for the company from C$5.00 to C$6.50 in a research note on Thursday, October 23rd. National Bankshares upped their price objective on shares of Taseko Mines from C$6.25 to C$7.25 in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$6.33.

Taseko Mines Trading Up 4.5%

The business has a fifty day simple moving average of C$5.62 and a two-hundred day simple moving average of C$4.53. The company has a market cap of C$2.42 billion, a PE ratio of -67.30 and a beta of 1.88.

Insider Transactions at Taseko Mines

In related news, insider Robert John Rotzinger sold 150,000 shares of the business’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 directly 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. Also, Director Russell Edward Hallbauer sold 30,000 shares of the 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 completion of the sale, the director owned 1,802,750 shares of the company’s stock, valued at approximately C$10,618,197.50. The trade was a 1.64% decrease in their position. Insiders have sold 184,500 shares of company stock worth $963,000 over the last 90 days. 2.58% of the stock is currently 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.