Torex Gold Resources (TSE:TXG) Given New C$50.00 Price Target at Scotiabank

Torex Gold Resources (TSE:TXG) had its price objective raised by Scotiabank from C$48.00 to C$50.00 in a research note published on Wednesday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other research analysts have also issued reports on the stock. CIBC upgraded shares of Torex Gold Resources from a “neutral” rating to an “outperform” rating and raised their price target for the stock from C$42.00 to C$58.00 in a report on Monday, April 14th. Raymond James raised their price objective on shares of Torex Gold Resources from C$34.00 to C$47.00 in a research report on Friday, April 4th. Cibc World Mkts raised shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Desjardins reaffirmed a “buy” rating on shares of Torex Gold Resources in a research report on Thursday, April 24th. Finally, TD Securities raised their price objective on shares of Torex Gold Resources from C$39.00 to C$57.00 in a research report on Tuesday, April 15th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$54.50.

Torex Gold Resources Stock Down 1.0%

Torex Gold Resources stock opened at C$46.33 on Wednesday. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. Torex Gold Resources has a 52-week low of C$19.01 and a 52-week high of C$49.07. The firm has a 50 day moving average price of C$43.26 and a two-hundred day moving average price of C$35.38. The firm has a market cap of C$2.81 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 0.02 and a beta of 1.34.

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.