Torex Gold Resources (TSE:TXG) Sets New 52-Week High – Still a Buy?

Torex Gold Resources Inc. (TSE:TXG) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$38.30 and last traded at C$38.26, with a volume of 171136 shares changing hands. The stock had previously closed at C$35.87.

Wall Street Analyst Weigh In

Several research firms have recently commented on TXG. Raymond James increased their target price on Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday, January 7th. CIBC increased their price objective on shares of Torex Gold Resources from C$36.00 to C$42.00 in a research note on Friday, February 21st. Royal Bank of Canada raised their price objective on shares of Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Finally, BMO Capital Markets increased their price target on shares of Torex Gold Resources from C$36.00 to C$38.00 in a research report on Thursday, February 20th. Four 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 company has a consensus rating of “Buy” and a consensus target price of C$36.53.

Torex Gold Resources Stock Performance

The stock’s 50-day moving average price is C$32.72 and its 200-day moving average price is C$29.71. The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. The company has a market capitalization of C$2.33 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.02 and a beta of 1.34.

Insider Buying and Selling

In related news, Director Caroline Donally bought 1,000 shares of the business’s stock in a transaction on Monday, January 20th. The shares were bought at an average cost of C$27.91 per share, for a total transaction of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total transaction of C$162,898.31. 0.35% of the stock is owned by company insiders.

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.