Torex Gold Resources (TSE:TXG) Hits New 12-Month High Following Analyst Upgrade

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

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

Insider Buying and Selling

In related news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of Torex Gold Resources 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 company’s stock in a transaction on Monday, January 20th. The shares were acquired at an average price of C$27.91 per share, for a total transaction of C$27,908.00. 0.35% of the stock is currently owned by company insiders.

Torex Gold Resources Price Performance

The firm has a market cap of C$2.00 billion, a P/E ratio of 17.76, a PEG ratio of 0.02 and a beta of 1.34. 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 firm has a 50-day simple moving average of C$30.11 and a 200-day simple moving average of C$28.09.

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.