Torex Gold Resources (TSE:TXG) Hits New 1-Year High – Should You Buy?

Torex Gold Resources Inc. (TSE:TXG)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$35.82 and last traded at C$35.81, with a volume of 144914 shares. The stock had previously closed at C$35.12.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXG. CIBC boosted their price target on Torex Gold Resources from C$36.00 to C$42.00 in a research note on Friday, February 21st. Royal Bank of Canada boosted their price target on Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. BMO Capital Markets boosted their price target on Torex Gold Resources from C$36.00 to C$38.00 in a research note on Thursday, February 20th. Scotiabank boosted their price target on Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. Finally, Raymond James upped their target price on Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$36.53.

Torex Gold Resources Price Performance

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 firm’s 50-day moving average is C$31.72 and its 200-day moving average is C$29.25. The company has a market cap of C$2.26 billion, a PE ratio of 20.08, a PEG ratio of 0.02 and a beta of 1.34.

Insider Transactions at Torex Gold Resources

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

Torex Gold Resources Company Profile

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.