Taseko Mines (LON:TKO) Trading Down 10.4% – Here’s Why

Taseko Mines Limited (LON:TKO)’s stock price traded down 10.4% during mid-day trading on Friday . The company traded as low as GBX 150 ($1.93) and last traded at GBX 150 ($1.93). 6,750 shares changed hands during trading, an increase of 25% from the average session volume of 5,405 shares. The stock had previously closed at GBX 167.50 ($2.16).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 300 ($3.87) price objective on shares of Taseko Mines in a report on Thursday, February 20th.

Taseko Mines Price Performance

The stock’s 50-day moving average is GBX 169.09 and its two-hundred day moving average is GBX 171.13. The company has a market cap of £812.70 million, a P/E ratio of 9.72 and a beta of 1.92.

Insider Activity

In related news, insider Robert Dickinson sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of GBX 295 ($3.80), for a total transaction of £129,800 ($167,375.89). Insiders own 2.58% of the company’s stock.

Taseko Mines Company Profile

Taseko Mines is a dynamic and growing mining company focused on the operation and development of copper mines in North America.

Headquartered in Vancouver, Taseko operates the state-of-the-art Gibraltar Mine (100% owned), the second largest copper mine in Canada, with a nearly 700-person workforce producing an average of 140 million pounds of copper and 2.5 million pounds of molybdenum per year.

In addition to the Yellowhead copper project and the Aley niobium project, Taseko is also advancing the Florence Copper project in Arizona – a near-term copper producer with an unparalleled energy, water and GHG profile per unit of production.