Torex Gold Resources Inc. (TSE:TXG) Receives Average Rating of “Buy” from Brokerages

Shares of Torex Gold Resources Inc. (TSE:TXG) have earned an average recommendation of “Buy” from the five research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$36.53.

TXG has been the topic of several recent analyst reports. Royal Bank of Canada raised their price target on shares of Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. Raymond James lifted their price target on shares of Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday, January 7th. Scotiabank increased their price objective on Torex Gold Resources from C$33.00 to C$37.00 in a research note 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, February 20th. Finally, CIBC increased their price target on Torex Gold Resources from C$36.00 to C$42.00 in a research report on Friday, February 21st.

Torex Gold Resources Stock Performance

Shares of TSE:TXG opened at C$30.83 on Thursday. 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$1.87 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 12 month low of C$17.00 and a 12 month high of C$35.89. The firm’s 50-day moving average is C$30.91 and its 200 day moving average is C$28.89.

Insider Activity

In other news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was 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 firm’s stock in a transaction that occurred on Monday, January 20th. The shares were purchased at an average cost 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 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.