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

Torex Gold Resources Inc. (TSE:TXG) reached a new 52-week high during mid-day trading on Thursday after CIBC raised their price target on the stock from C$36.00 to C$42.00. The company 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.

Several other equities research analysts have also recently weighed in on TXG. Raymond James increased their price objective on Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. Scotiabank boosted their price objective on shares of Torex Gold Resources from C$33.00 to C$37.00 in a report on Thursday, November 21st. BMO Capital Markets lifted their target price on Torex Gold Resources from C$36.00 to C$38.00 in a research report on Thursday. Finally, Royal Bank of Canada raised their target price on Torex Gold Resources from C$34.00 to C$37.00 in a research report on Friday, December 6th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Torex Gold Resources presently has a consensus rating of “Buy” and a consensus target price of C$36.53.

Insider Buying and Selling

In related news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the business’s stock in a transaction 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 bought 1,000 shares of the stock in a transaction on Monday, January 20th. The shares were purchased at an average price of C$27.91 per share, with a total value of C$27,908.00. Corporate insiders own 0.35% of the company’s stock.

Torex Gold Resources Trading Down 6.0 %

The business has a 50-day simple moving average of C$30.11 and a two-hundred day simple moving average of C$28.09. The stock has a market cap of C$2.00 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

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.