Cibc World Mkts Upgrades Torex Gold Resources (TSE:TXG) to “Strong-Buy”

Torex Gold Resources (TSE:TXG) was upgraded by stock analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. BMO Capital Markets lifted their target price on shares of Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday, February 20th. TD Securities raised their price target on Torex Gold Resources from C$39.00 to C$57.00 in a report on Tuesday. Royal Bank of Canada upped their price target on shares of Torex Gold Resources from C$44.00 to C$45.00 in a research note on Friday, April 4th. CIBC raised shares of Torex Gold Resources from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from C$42.00 to C$58.00 in a report on Monday. Finally, Raymond James increased their price target on shares of Torex Gold Resources from C$34.00 to C$47.00 in a report on Friday, April 4th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Torex Gold Resources presently has an average rating of “Buy” and an average price target of C$45.19.

Torex Gold Resources Price Performance

Shares of TXG stock opened at C$43.91 on Monday. Torex Gold Resources has a twelve month low of C$18.79 and a twelve month high of C$46.39. The stock has a market cap of C$2.66 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 0.02 and a beta of 1.34. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. The business’s fifty day moving average is C$35.62 and its 200 day moving average is C$31.19.

Insider Transactions at Torex Gold Resources

In other news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total value of C$162,898.31. Also, Director Caroline Donally bought 1,000 shares of the business’s stock in a transaction dated Monday, January 20th. The shares were bought at an average cost of C$27.91 per share, for a total transaction of C$27,908.00. Insiders own 0.35% of the company’s stock.

About Torex Gold Resources

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.