ATEX Resources (CVE:ATX) Hits New 1-Year High - Should You Buy?

Key Points

• ATEX Resources Inc. shares reached a new 52-week high of C$2.67, closing at C$2.59 with a trading volume of 299,530 shares.
• Stifel Nicolaus raised their target price for ATEX from C$3.50 to C$4.00, with the stock earning a consensus rating of "Strong Buy" from analysts.
• The company specializes in mineral exploration in South America, with its flagship project being the Valeriano Copper Gold project in Chile.

ATEX Resources Inc. (CVE:ATX - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$2.67 and last traded at C$2.59, with a volume of 299530 shares trading hands. The stock had previously closed at C$2.54.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upped their target price on shares of ATEX Resources from C$3.50 to C$4.00 in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Strong Buy" and an average target price of C$3.25.

ATEX Resources Stock Up 1.0%

The stock has a 50 day moving average of C$2.24 and a 200 day moving average of C$2.19. The firm has a market cap of C$770.31 million, a price-to-earnings ratio of -10.26 and a beta of 1.88.

About ATEX Resources

ATEX Resources Inc engages in the exploration and evaluation of mineral properties in South America. Its flagship property is the Valeriano Copper Gold project covering approximately 3,705 hectares located in the north-central Chile. The company was formerly known as Colombia Crest Gold Corp. and changed its name to ATEX Resources Inc in February 2019.

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