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

Taseko Mines Ltd. (TSE:TKO)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as C$7.42 and last traded at C$7.33, with a volume of 877545 shares traded. The stock had previously closed at C$7.19.

Wall Street Analysts Forecast Growth

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

Taseko Mines Stock Performance

The company has a 50-day moving average of C$6.11 and a 200-day moving average of C$4.91. The firm has a market capitalization of C$2.65 billion, a price-to-earnings ratio of -38.63 and a beta of 1.88.

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

Insiders Place Their Bets

In other Taseko Mines news, Director Russell Edward Hallbauer sold 30,000 shares of the 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 completion of the transaction, the director owned 1,802,750 shares in the company, valued at approximately C$10,618,197.50. This represents a 1.64% decrease in their position. Also, insider Robert John Rotzinger sold 150,000 shares of Taseko Mines stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of C$5.07, for a total value of C$759,750.00. Following the completion of the sale, the insider directly owned 131,958 shares in the company, valued at C$668,367.27. This represents a 53.20% decrease in their position. Over the last ninety days, insiders sold 184,500 shares of company stock valued at $963,000. Company insiders own 2.58% of the company’s stock.

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.