Torex Gold Resources (TSE:TXG) Reaches New 1-Year High at $27.06

Torex Gold Resources Inc. (TSE:TXG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$27.06 and last traded at C$25.78, with a volume of 173710 shares traded. The stock had previously closed at C$26.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TXG shares. National Bankshares lifted their target price on Torex Gold Resources from C$27.00 to C$27.50 and gave the company a “sector perform” rating in a research note on Monday, June 10th. Cormark upped their target price on shares of Torex Gold Resources from C$30.00 to C$33.00 in a research report on Friday, September 6th. BMO Capital Markets lifted their price target on shares of Torex Gold Resources from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Royal Bank of Canada raised their price objective on shares of Torex Gold Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Canaccord Genuity Group upped their target price on shares of Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$30.17.

Torex Gold Resources Trading Down 1.2 %

The company’s fifty day simple moving average is C$23.53 and its two-hundred day simple moving average is C$21.25. The company has a market capitalization of C$2.22 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 0.02 and a beta of 1.35. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32.

Torex Gold Resources (TSE:TXG) last posted its earnings results on Wednesday, August 7th. The company reported C$0.82 earnings per share for the quarter, topping the consensus estimate of C$0.70 by C$0.12. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The firm had revenue of C$369.83 million for the quarter. Research analysts forecast that Torex Gold Resources Inc. will post 3.2219355 earnings per share for the current fiscal year.

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.