TGB Near $9 With Momentum Building After a 14.5% Jump
$Taseko Mines(TGB)$
Taseko Mines(TGB) Rockets +14.53%: Copper Miner Nears 52-Week High, Eyes $9 Breakout
Latest Close Data
Closed at $8.83 on Feb 3, 2026, surging +14.53% ($1.12). The stock is now just $0.17 away from its 52-week high of $9.00.
Core Market Drivers
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The strong rally is likely fueled by positive sentiment in the copper market and the company's recent strategic positioning.
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Taseko's flagship Gibraltar mine continues to be a key asset, with operations benefiting from firm copper prices.
Technical Analysis
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Volume was robust at 13.5M shares (Volume Ratio: 1.26), confirming the breakout move.
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The RSI(12) at 72.41 is in bullish territory but not yet overbought, suggesting room for further upside.
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The MACD shows a positive histogram reading of 0.134, indicating strengthening bullish momentum.
Key Price Levels
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Primary Support: $8.06 (today's low).
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Strong Resistance: $9.00 (52-week high).
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Immediate Pivot: $8.83 (today's close). A sustained close above this level is critical for the next leg up.
Valuation Perspective
The stock trades at a Forward P/E of 17.43, which is below its historical average of 24.59 and significantly below its +1 Std. Dev. of 45.84, suggesting potential undervaluation relative to its own history. The P/S ratio is 7.27.
Analyst Targets
3 analysts cover TGB with an average price target of $11.50 (Upside: +30.2%). The consensus is bullish, with 1 Strong Buy and 2 Buy recommendations.
Weekly Outlook
Expect consolidation near the $9.00 resistance with high volatility. A confirmed breakout above $9.00 could target the $9.50 - $10.00 range. Failure to hold $8.06 support may lead to a pullback toward $7.85.
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