Torex Gold Resources (TSE:TXG) Hits New 12-Month High – Should You Buy?

Torex Gold Resources Inc. (TSE:TXG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$33.67 and last traded at C$33.67, with a volume of 51596 shares traded. The stock had previously closed at C$32.11.

Analysts Set New Price Targets

A number of research analysts have commented on TXG shares. National Bank Financial upgraded Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from C$31.25 to C$37.75 in a research report on Thursday, October 10th. CIBC upped their price target on Torex Gold Resources from C$33.00 to C$34.50 in a report on Monday, December 2nd. Royal Bank of Canada increased their target price on Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Finally, Raymond James increased their price target on Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$34.81.

Torex Gold Resources Trading Up 4.2 %

The firm’s 50-day simple moving average is C$28.93 and its 200 day simple moving average is C$27.02. The firm has a market capitalization of C$2.88 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$1.02 EPS for the quarter, beating the consensus estimate of C$0.82 by C$0.20. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. The firm had revenue of C$427.96 million during the quarter. Equities analysts expect that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of C$162,898.31. Also, Director Caroline Donally acquired 1,000 shares of Torex Gold Resources stock in a transaction dated Monday, January 20th. The stock was purchased at an average cost of C$27.91 per share, with a total value of C$27,908.00. In the last ninety days, insiders acquired 2,000 shares of company stock valued at $55,927. Company insiders own 0.35% of the company’s stock.

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.