Taseko Mines (TSE:TKO) Reaches New 1-Year High – Time to Buy?

Taseko Mines Ltd. (TSE:TKO)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$7.88 and last traded at C$7.85, with a volume of 465853 shares. The stock had previously closed at C$7.70.

Analysts Set New Price Targets

Several research firms have weighed in on TKO. National Bankshares upped their price objective on shares of Taseko Mines from C$7.25 to C$8.50 and gave the company an “outperform” rating in a research note on Thursday, December 11th. TD Securities upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating and lifted their target price for the company from C$5.00 to C$6.50 in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Taseko Mines presently has an average rating of “Buy” and a consensus price target of C$6.75.

Taseko Mines Stock Performance

The stock has a 50-day moving average of C$6.71 and a 200 day moving average of C$5.46. The firm has a market capitalization of C$2.83 billion, a P/E ratio of -41.32 and a beta of 1.80.

Taseko Mines (TSE:TKO) last announced its earnings results on Thursday, November 13th. The company reported C$0.02 earnings per share for the quarter. Taseko Mines had a return on equity of 16.33% and a net margin of 12.69%.The company had revenue of C$173.91 million during the quarter. On average, equities analysts predict that Taseko Mines Ltd. will post 0.2801932 EPS for the current year.

Insider Activity

In other news, Director Russell Edward Hallbauer sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of C$5.89, for a total transaction of C$176,700.00. Following the sale, the director owned 1,802,750 shares of the company’s stock, valued at C$10,618,197.50. This trade represents a 1.64% decrease in their ownership of the stock. 2.58% of the stock is owned by company 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.