Taseko Mines (TSE:TKO) Trading Down 1.5% – Here’s Why

Taseko Mines Ltd. (TSE:TKO)’s stock price dropped 1.5% during trading on Tuesday . The company traded as low as C$9.02 and last traded at C$9.14. Approximately 1,085,047 shares were traded during trading, a decline of 30% from the average daily volume of 1,557,998 shares. The stock had previously closed at C$9.28.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Taseko Mines from C$12.75 to C$13.50 and gave the company a “buy” rating in a report on Friday, February 20th. National Bank Financial reduced their price objective on Taseko Mines from C$13.50 to C$12.75 and set an “outperform” rating on the stock in a report on Friday, February 20th. Finally, TD Securities upped their target price on Taseko Mines from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Taseko Mines presently has a consensus rating of “Buy” and an average price target of C$11.13.

Taseko Mines Stock Down 5.4%

The stock’s 50 day moving average price is C$10.43 and its 200-day moving average price is C$7.74. The stock has a market capitalization of C$2.94 billion, a P/E ratio of -89.67 and a beta of 1.90.

Taseko Mines (TSE:TKO) last issued its quarterly earnings data on Wednesday, February 18th. The company reported C$0.02 EPS for the quarter. The company had revenue of C$243.77 million during the quarter. Taseko Mines had a negative net margin of 4.47% and a negative return on equity of 5.02%. Analysts anticipate that Taseko Mines Ltd. will post 0.2801932 earnings per share for the current year.

Insider Transactions at Taseko Mines

In other news, insider Richard James Weymark sold 70,000 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of C$10.50, for a total value of C$735,000.00. Also, insider Brian Lee Bergot sold 120,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of C$9.97, for a total value of C$1,196,400.00. Following the sale, the insider owned 211,811 shares of the company’s stock, valued at C$2,111,755.67. This trade represents a 36.17% decrease in their ownership of the stock. In the last three months, insiders sold 205,000 shares of company stock valued at $2,104,800. 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.