Torex Gold Resources (TSE:TXG) Given New C$100.00 Price Target at CIBC

Torex Gold Resources (TSE:TXG) had its price target increased by research analysts at CIBC from C$90.00 to C$100.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 49.72% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. National Bankshares lowered their price target on shares of Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating on the stock in a report on Tuesday, December 9th. Scotiabank boosted their target price on Torex Gold Resources from C$72.00 to C$95.00 in a research note on Monday, January 26th. TD Securities upped their price target on Torex Gold Resources from C$78.00 to C$96.00 in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada lifted their price objective on Torex Gold Resources from C$77.00 to C$94.00 in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, Torex Gold Resources presently has a consensus rating of “Buy” and a consensus target price of C$78.10.

Torex Gold Resources Stock Performance

TSE TXG traded down C$0.76 during trading hours on Wednesday, reaching C$66.79. 429,328 shares of the company were exchanged, compared to its average volume of 669,091. The stock has a market capitalization of C$6.42 billion, a P/E ratio of 19.64, a P/E/G ratio of 0.02 and a beta of 1.13. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. Torex Gold Resources has a 1 year low of C$30.66 and a 1 year high of C$84.61. The business’s 50 day simple moving average is C$68.39 and its 200-day simple moving average is C$58.48.

About Torex Gold Resources

Torex Gold Resources Inc is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala. Within this property, the company has two assets: the El Limon-Guajes Mine, an open pit gold deposit located north of the Balsas river, and the Media Luna Project, which is at an advanced stage of exploration.