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

Torex Gold Resources (TSE:TXG) was upgraded by equities researchers at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on the stock. Royal Bank of Canada increased their target price on shares of Torex Gold Resources from C$44.00 to C$45.00 in a report on Friday, April 4th. BMO Capital Markets raised their price objective on Torex Gold Resources from C$36.00 to C$38.00 in a research note on Thursday, February 20th. CIBC upgraded Torex Gold Resources from a “neutral” rating to an “outperform” rating and increased their price target for the stock from C$42.00 to C$58.00 in a report on Monday. TD Securities lifted their price objective on Torex Gold Resources from C$39.00 to C$57.00 in a report on Tuesday. Finally, Cormark boosted their price objective on Torex Gold Resources from C$46.00 to C$55.00 in a research report on Monday. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Torex Gold Resources has a consensus rating of “Buy” and an average price target of C$45.19.

Torex Gold Resources Price Performance

Torex Gold Resources stock opened at C$43.91 on Monday. The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. The firm has a market capitalization of C$2.66 billion, a P/E ratio of 23.61, a PEG ratio of 0.02 and a beta of 1.34. The business has a 50-day moving average of C$35.62 and a 200-day moving average of C$31.19. Torex Gold Resources has a 1 year low of C$18.79 and a 1 year high of C$46.39.

Insider Buying and Selling at Torex Gold Resources

In other Torex Gold Resources news, 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. Also, Director Caroline Donally acquired 1,000 shares of the stock in a transaction dated Monday, January 20th. The shares were purchased at an average price of C$27.91 per share, for a total transaction of C$27,908.00. Company 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.