Taseko Mines (TSE:TKO) Stock Price Up 16.4% – What’s Next?

Shares of Taseko Mines Ltd. (TSE:TKO) shot up 16.4% during trading on Tuesday . The stock traded as high as C$11.05 and last traded at C$11.01. Approximately 2,048,210 shares were traded during mid-day trading, an increase of 53% from the average daily volume of 1,341,448 shares. The stock had previously closed at C$9.46.

Wall Street Analysts Forecast Growth

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

Taseko Mines Stock Up 0.6%

The stock’s fifty day simple moving average is C$10.00 and its 200-day simple moving average is C$10.04. The company has a market capitalization of C$4.23 billion, a PE ratio of 231.60 and a beta of 1.86.

Taseko Mines (TSE:TKO) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.11 earnings per share for the quarter. The business had revenue of C$330.55 million for the quarter. Taseko Mines had a return on equity of 2.27% and a net margin of 2.00%. Analysts expect that Taseko Mines Ltd. will post 0.2801932 EPS for the current year.

Insiders Place Their Bets

In related news, insider Terry James Morris bought 11,000 shares of Taseko Mines stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average price of C$8.97 per share, with a total value of C$98,670.00. Following the purchase, the insider owned 11,000 shares in the company, valued at C$98,670. This represents a ∞ increase in their ownership of the stock. Also, insider Bryce Hamming sold 50,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of C$11.00, for a total value of C$550,000.00. Following the sale, the insider owned 120,000 shares in the company, valued at approximately C$1,320,000. This trade represents a 29.41% decrease in their position. Over the last quarter, insiders acquired 93,000 shares of company stock worth $325,590. 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.