Taseko Mines (LON:TKO) Shares Up 12.5% – Here’s What Happened

Taseko Mines Limited (LON:TKO)’s stock price shot up 12.5% during mid-day trading on Friday . The company traded as high as GBX 180 ($2.21) and last traded at GBX 180 ($2.21). 10,167 shares traded hands during trading, an increase of 221% from the average session volume of 3,172 shares. The stock had previously closed at GBX 160 ($1.97).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 275 ($3.38) price objective on shares of Taseko Mines in a research note on Thursday, November 7th.

Taseko Mines Price Performance

The stock has a market cap of £528.03 million, a P/E ratio of 1,800.00 and a beta of 1.92. The firm’s fifty day moving average price is GBX 165.97 and its two-hundred day moving average price is GBX 172.83.

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.