Taseko Mines (TKO) Gets a Buy Rating from National Bank

In a new note to investors today, an analyst has provided a rating update for Taseko Mines (TKO). Analyst Don DeMarco from National Bank reiterated a Buy rating, with a C$1.50 price target.

According to TipRanks.com, DeMarco is a 4-star analyst with an average return of 9.1% and a 68.8% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Detour Gold Corporation, OceanaGold Corporation, and Kirkland Lake Gold Ltd.

Taseko Mines has an analyst consensus of Moderate Buy, with a price target consensus of C$1.50.

Based on Taseko Mines’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$7.1 million. In comparison, last year the company had a GAAP net loss of C$7.6 million.

Taseko Mines Ltd. engages in the acquisition, development, and operation of mineral deposits. It focuses on copper assets of Gibraltar Mine located in central British Columbia as well as the Florence copper, Aley niobium, Harmony gold, and New Prosperity gold-copper projects. The company was founded on April 15, 1966 and is headquartered in Vancouver, Canada.

The company’s shares closed on Wednesday at C$0.75, close to its 52-week low of C$0.60.