Taseko Mines (TGB) Price Target Hiked on positive Section 232 Tariffs Impact Prospects

Taseko Mines Ltd. (NYSE:TGB) is one of the best high-return penny stocks to buy now. On July 16, analysts at TD Securities increased their price target for the stock to C$5 from C$3.50 but downgraded the rating to ‘Hold’ from ‘Buy’.

The adjustment came amid valuation concerns, as the stock was trading at 1.3 times net asset value and 5.7 times estimated 2026 EBITDA. According to the analyst Craig Hutchison, the stock is fully valued, even as they expect the stock price to increase.

In addition, analysts expect Taseko mine valuations to receive a significant boost if Section 232 tariffs take effect, given the potential positive impact on the Taseko Florence project.

Taseko Mines Ltd. (NYSE:TGB) is a North American mining company focused on the operation and development of copper mines. It owns and operates the Gibraltar Mine, a large copper and molybdenum mine located in British Columbia. It’s also developing the Florence Copper project in Arizona, which uses a unique in-situ recovery method.

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Disclosure: None. This article is originally published at Insider Monkey.