Torex Gold Resources (TSE:TXG) Hits New 12-Month High – Time to Buy?

Torex Gold Resources Inc. (TSE:TXG) shares reached a new 52-week high during trading on Monday . The stock traded as high as C$39.77 and last traded at C$39.71, with a volume of 131084 shares traded. The stock had previously closed at C$38.40.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TXG shares. Royal Bank of Canada upped their price objective on Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. Raymond James increased their price target on shares of Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. BMO Capital Markets lifted their price objective on shares of Torex Gold Resources from C$36.00 to C$38.00 in a research report on Thursday, February 20th. Finally, CIBC boosted 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. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Torex Gold Resources presently has a consensus rating of “Buy” and an average price target of C$36.53.

Torex Gold Resources Price Performance

The stock’s 50 day simple moving average is C$33.59 and its 200-day simple moving average is C$30.12. The firm has a market cap of C$2.37 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

Insider Activity at Torex Gold Resources

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 transaction of C$162,898.31. Also, Director Caroline Donally purchased 1,000 shares of the business’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, for a total transaction of C$27,908.00. 0.35% of the stock is owned by insiders.

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.