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Investing.com - TD Cowen upgraded Taseko Mines Ltd. (NYSE:TGB) (TKO:CN) from Hold to Buy on Thursday, while raising its price target to C$6.50 from C$5.00. The stock, currently trading at $4.16, has delivered an impressive 99.48% return year-to-date, according to InvestingPro data.
The upgrade comes as TD Cowen analyst Craig Hutchison resumed coverage of the copper producer, citing multiple factors supporting a more positive outlook for the company.
TD Cowen’s bullish thesis highlights the increased liquidity following Taseko’s US$170 million financing, which strengthens the company’s financial position as it advances its projects.
The firm expects grade improvements at Taseko’s Gibraltar mine beginning in the fourth quarter of 2025, along with the completion of construction capital expenditures at the Florence project.
TD Cowen also pointed to Taseko’s projected approximately 46% year-over-year increase in copper production in 2026, combined with what it describes as a favorable outlook for copper prices.
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