Taseko Mines (TGB) Jumps to 9-Year High

Core Viewpoint - Taseko Mines Ltd. (NYSEAmerican:TGB) has reached a nine-year high, driven by optimistic copper price forecasts from UBS, which predicts significant price increases in the coming quarters [1][2]. Group 1: Stock Performance - Taseko Mines extended its winning streak to three days, with the stock price reaching a peak of $5.13 during intra-day trading before closing at $5.04, reflecting a 10.77% increase [1]. - The stock's performance is attributed to investor confidence following UBS's positive outlook on copper prices [1]. Group 2: Copper Price Forecast - UBS forecasts copper prices to rise to $11,500 per ton in March 2026, $12,000 in June, and further to $12,500 and $13,000 in September and December, respectively [1]. - The forecast considers ongoing supply risks and lower inventories, which are expected to maintain tight market conditions [2]. - UBS anticipates a copper deficit of 230,000 tons in 2025 and 407,000 tons in 2026, primarily due to reduced output from Freeport McMoran's Grasberg mine [2]. Group 3: Company Developments - Taseko Mines confirmed a tragic accident at its Gibraltar mine in British Columbia, resulting in the death of a contract worker, leading to a halt in all activities at the site until a full investigation is completed [2]. - The company expressed condolences and emphasized the health and safety of its employees, offering support services to those affected by the incident [2].