Torex Gold Resources (TSE:TXG) Hits New 12-Month High – What’s Next?

Torex Gold Resources Inc. (TSE:TXG)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$38.30 and last traded at C$38.26, with a volume of 171136 shares trading hands. The stock had previously closed at C$35.87.

Wall Street Analyst Weigh In

A number of analysts recently commented on TXG shares. Raymond James increased their price objective on Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday, January 7th. BMO Capital Markets raised their price target on Torex Gold Resources from C$36.00 to C$38.00 in a research note on Thursday, February 20th. CIBC upped their price objective on shares of Torex Gold Resources from C$36.00 to C$42.00 in a research note on Friday, February 21st. Finally, Royal Bank of Canada raised their target price on shares of Torex Gold Resources from C$34.00 to C$37.00 in a research report on Friday, December 6th. Four 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 stock currently has a consensus rating of “Buy” and a consensus price target of C$36.53.

Torex Gold Resources Trading Up 2.7 %

The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12. The business’s 50-day simple moving average is C$32.72 and its two-hundred day simple moving average is C$29.71. The stock has a market capitalization of C$2.33 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.02 and a beta of 1.34.

Insiders Place Their Bets

In other news, Director Caroline Donally bought 1,000 shares of Torex Gold Resources stock in a transaction dated Monday, January 20th. The shares were acquired at an average cost 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 the company’s stock in a transaction 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. 0.35% of the stock is currently owned by insiders.

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.