Canaccord Raises Price Target for Taseko Mines Ltd to C$14
Taseko Mines Ltd's price target has been increased by Canaccord to C$14. The company's Gibraltar Mine reported significant production growth in the first quarter of 2026.
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Canaccord has raised the price target for Taseko Mines Ltd (NYSEAMERICAN:TGB) to C$14 from C$13.50, maintaining a Buy rating. In the first quarter of 2026, Taseko's Gibraltar Mine produced 30 million pounds of copper, a 50% increase year-over-year, and 717 thousand pounds of molybdenum, marking a 113% rise.
Copper sales were reported at 27 million pounds, slightly below production due to shipment timing. The company stated that copper grades were consistent with the average life of mine grade, and recoveries improved to 83%. These production gains may bolster investor confidence in Taseko’s operational efficiency and growth potential.
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