Taseko Mines (TSE:TKO) Rating Lowered to “Hold” at TD Securities

Taseko Mines (TSE:TKO) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$5.00 target price on the stock, up from their previous target price of C$3.50. TD Securities’ price objective points to a potential upside of 12.87% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Paradigm Capital increased their price target on Taseko Mines from C$4.50 to C$5.25 and gave the company a “buy” rating in a research note on Monday, July 7th. National Bankshares raised their price objective on Taseko Mines from C$4.50 to C$5.25 and gave the stock an “outperform” rating in a research note on Tuesday, June 24th.

Taseko Mines Stock Performance

Shares of TKO opened at C$4.43 on Wednesday. The firm has a market capitalization of C$1.34 billion, a price-to-earnings ratio of 17.33 and a beta of 1.92. The business’s fifty day moving average price is C$3.79 and its two-hundred day moving average price is C$3.27. Taseko Mines has a 52 week low of C$2.38 and a 52 week high of C$5.05.

Insider Activity

In other news, Director Russell Edward Hallbauer acquired 20,000 shares of the stock in a transaction on Thursday, July 10th. The stock was acquired at an average cost of C$4.70 per share, for a total transaction of C$94,000.00. Also, Senior Officer Richard James Weymark sold 34,000 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of C$4.91, for a total transaction of C$166,940.00. Over the last ninety days, insiders sold 170,100 shares of company stock worth $784,200. Corporate 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.