Torex Gold Resources (TSE:TXG) Sets New 52-Week High After Analyst Upgrade

Torex Gold Resources Inc. (TSE:TXG)’s stock price hit a new 52-week high on Thursday after CIBC raised their price target on the stock from C$36.00 to C$42.00. The stock traded as high as C$35.30 and last traded at C$35.09, with a volume of 144051 shares traded. The stock had previously closed at C$33.28.

Other research analysts have also recently issued research reports about the stock. Raymond James raised their target price on shares of Torex Gold Resources from C$33.00 to C$34.00 in a report on Tuesday, January 7th. Scotiabank boosted their price objective on Torex Gold Resources from C$33.00 to C$37.00 in a report on Thursday, November 21st. BMO Capital Markets raised their target price on Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday. Finally, Royal Bank of Canada boosted their price target on Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$36.53.

Insider Activity

In other news, Director Caroline Donally bought 1,000 shares of Torex Gold Resources stock in a transaction on Monday, January 20th. The stock was acquired 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 stock was sold at an average price of C$28.97, for a total value of C$162,898.31. Company insiders own 0.35% of the company’s stock.

Torex Gold Resources Stock Down 6.0 %

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 business has a fifty day simple moving average of C$30.11 and a two-hundred day simple moving average of C$28.09. The company has a market cap of C$2.00 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34.

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.