Taseko Mines (TSE:TKO) Reaches New 1-Year High – Here’s Why

Taseko Mines Ltd. (TSE:TKO)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$12.62 and last traded at C$12.49, with a volume of 67099 shares traded. The stock had previously closed at C$12.27.

Analyst Ratings Changes

Separately, National Bank Financial raised their target price on shares of Taseko Mines from C$12.00 to C$13.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Taseko Mines has an average rating of “Buy” and an average target price of C$13.17.

Taseko Mines Stock Performance

The company has a 50-day moving average of C$10.10 and a 200-day moving average of C$10.10. The stock has a market capitalization of C$4.52 billion, a price-to-earnings ratio of 411.67 and a beta of 1.86.

Taseko Mines (TSE:TKO) last announced its earnings results on Thursday, August 6th. The company reported C$0.11 EPS for the quarter. The firm had revenue of C$330.55 million for the quarter. Taseko Mines had a return on equity of 2.09% and a net margin of 1.60%. As a group, analysts expect that Taseko Mines Ltd. will post 0.2801932 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Brian Lee Bergot sold 82,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$11.34, for a total value of C$929,880.00. Following the completion of the transaction, the insider owned 211,811 shares of the company’s stock, valued at approximately C$2,401,936.74. The trade was a 27.91% decrease in their position. Also, insider Terry James Morris bought 11,000 shares of Taseko Mines stock in a transaction on Thursday, May 21st. The stock was purchased at an average price of C$8.97 per share, for a total transaction of C$98,670.00. Following the completion of the acquisition, the insider owned 11,000 shares in the company, valued at C$98,670. This represents a ? increase in their position. In the last ninety days, insiders have purchased 93,000 shares of company stock worth $325,590. 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.