Canaccord Genuity Group Boosts Taseko Mines (TSE:TKO) Price Target to C$13.50

Taseko Mines (TSE:TKO) had its price target raised by stock analysts at Canaccord Genuity Group from C$12.75 to C$13.50 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 24.20% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. National Bank Financial lifted their price objective on shares of Taseko Mines from C$8.50 to C$13.50 in a report on Thursday, January 29th. TD Securities upped their price objective on Taseko Mines from C$6.50 to C$12.00 in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$10.88.

Taseko Mines Trading Up 3.3%

Taseko Mines stock traded up C$0.35 during midday trading on Friday, reaching C$10.87. 1,088,795 shares of the stock traded hands, compared to its average volume of 1,513,410. The firm has a market cap of C$3.92 billion, a PE ratio of -57.21 and a beta of 2.15. The company has a 50-day simple moving average of C$9.39 and a two-hundred day simple moving average of C$6.92. Taseko Mines has a 12-month low of C$2.38 and a 12-month high of C$12.47.

Insider Activity

In other news, insider Richard James Weymark sold 70,000 shares of Taseko Mines stock in a transaction on Friday, January 30th. The shares were sold at an average price of C$10.50, for a total transaction of C$735,000.00. Also, insider Brian Lee Bergot sold 120,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of C$9.97, for a total transaction of C$1,196,400.00. Following the transaction, the insider owned 211,811 shares of the company’s stock, valued at approximately C$2,111,755.67. The trade was a 36.17% decrease in their position. In the last three months, insiders have sold 205,000 shares of company stock worth $2,104,800. 2.58% of the stock is currently owned by corporate insiders.

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.