Raymond James Forecasts Strong Price Appreciation for Torex Gold Resources (TSE:TXG) Stock

Torex Gold Resources (TSE:TXG) had its target price raised by stock analysts at Raymond James from C$34.00 to C$47.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Raymond James’ price target would indicate a potential upside of 26.86% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Royal Bank of Canada lifted their price objective on Torex Gold Resources from C$44.00 to C$45.00 in a research report on Friday. CIBC raised their price target on shares of Torex Gold Resources from C$36.00 to C$42.00 in a report on Friday, February 21st. Finally, BMO Capital Markets upped their price objective on Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$38.86.

Torex Gold Resources Price Performance

Shares of Torex Gold Resources stock traded down C$2.35 during mid-day trading on Friday, reaching C$37.05. 490,769 shares of the stock traded hands, compared to its average volume of 301,552. The business has a 50-day moving average of C$34.00 and a 200 day moving average of C$30.33. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. The stock has a market capitalization of C$2.25 billion, a PE ratio of 19.92, a PEG ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a fifty-two week low of C$18.79 and a fifty-two week high of C$40.27.

Insider Transactions at Torex Gold Resources

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 the company’s stock in a transaction dated Monday, January 20th. The shares were purchased at an average price of C$27.91 per share, for a total transaction of C$27,908.00. 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.