Torex Gold Resources (TSE:TXG) Hits New 1-Year High Following Analyst Upgrade

Torex Gold Resources Inc. (TSE:TXG)’s share price hit a new 52-week high on Thursday after CIBC raised their price target on the stock from C$36.00 to C$42.00. The stock traded as high as C$35.30 and last traded at C$35.09, with a volume of 144051 shares. The stock had previously closed at C$33.28.

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

Insider Activity at Torex Gold Resources

In other news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was 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 the company’s stock in a transaction that occurred on Monday, January 20th. The stock was acquired at an average price of C$27.91 per share, with a total value of C$27,908.00. 0.35% of the stock is owned by insiders.

Torex Gold Resources Stock Performance

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

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.