Torex Gold Resources (TSE:TXG) Reaches New 52-Week High – Time to Buy?

Torex Gold Resources Inc. (TSE:TXG) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$33.67 and last traded at C$33.67, with a volume of 51596 shares. The stock had previously closed at C$32.11.

Analyst Ratings Changes

TXG has been the topic of several research analyst reports. Raymond James boosted their target price on shares of Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. National Bank Financial upgraded Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Scotiabank upped their price target on Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. TD Securities lifted their target price on Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Finally, CIBC lifted their target price on Torex Gold Resources from C$33.00 to C$34.50 in a research note on Monday, December 2nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$34.81.

Torex Gold Resources Stock Up 4.2 %

The stock has a market capitalization of C$2.88 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 0.02 and a beta of 1.34. The firm has a 50-day moving average of C$28.93 and a 200 day moving average of C$27.02. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.02 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.20. The business had revenue of C$427.96 million for the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. As a group, sell-side analysts forecast that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current fiscal year.

Insider Activity

In other Torex Gold Resources news, Director Caroline Donally acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 20th. The shares were bought at an average price of C$27.91 per share, with a total value of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of Torex Gold Resources stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of C$28.97, for a total transaction of C$162,898.31. Insiders acquired a total of 2,000 shares of company stock valued at $55,927 over the last three months. Corporate insiders own 0.35% of the company’s stock.

Torex Gold Resources Company Profile

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.