10:08 AM EDT, 03/25/2024 (MT Newswires) -- Taseko Mines ( TGB ) rose more than 4% on Monday.

The Vancouver-based copper mining company announced an agreement to purchase the remaining 12.5% interest in its flagship Gibraltar mine.

TD analyst Craig Hutchison said the transaction is accretive to Taseko's valuation, and its copper production will increase by 14% on an attributable basis.

Hutchison maintained a Buy rating and $3.25 price target on the stock.

Taseko rose $0.125, or 4.6%, to $2.82 on the Toronto Stock Exchange Monday morning.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 2.82, Change: +0.12, Percent Change: +4.26