Taseko Mines Ltd (TKO) Shares Down 3.8% on Insider Selling

Shares of Taseko Mines Ltd (TSE:TKO) (NYSE:TGB) were down 3.8% on Wednesday after an insider sold shares in the company. The stock traded as low as C$2.81 and last traded at C$2.81. Approximately 331,780 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 421,444 shares. The stock had previously closed at C$2.92.

Specifically, insider John Mcmanus sold 50,000 shares of Taseko Mines stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of C$2.20, for a total value of C$110,000.00. Also, Director Alexander Morrison sold 88,000 shares of Taseko Mines stock in a transaction dated Monday, August 28th. The stock was sold at an average price of C$2.28, for a total value of C$200,640.00. Over the last 90 days, insiders sold 289,000 shares of company stock valued at $680,490.

A number of brokerages have issued reports on TKO. TD Securities raised their target price on Taseko Mines from C$1.90 to C$2.25 in a report on Tuesday, September 26th. BMO Capital Markets raised their target price on Taseko Mines from C$2.20 to C$2.30 in a report on Tuesday, September 26th. Scotiabank reduced their target price on Taseko Mines from C$1.70 to C$1.50 and set an “underperform” rating on the stock in a report on Friday, August 4th. Finally, National Bank Financial reduced their target price on Taseko Mines from C$2.20 to C$2.10 and set a “sector perform” rating on the stock in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Taseko Mines presently has an average rating of “Hold” and a consensus target price of C$1.78.

The firm has a market cap of $642.49 million and a price-to-earnings ratio of 56.80. The firm’s 50-day moving average is $2.42 and its 200-day moving average is $1.88.

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Taseko Mines Company Profile

Taseko Mines Limited is a mining company. The Company 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. Its projects represent a range of metals, including gold, copper and niobium.

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