ATEX Resources (CVE:ATX) Shares Up 1.1% - Should You Buy?

Key Points

• Shares rose 1.1% to C$3.62 (intraday high C$3.69) on Tuesday, with 363,043 shares traded—about 52% below the average session volume.
• Analysts hold a consensus "Buy" rating with a consensus price target of C$4.67; notable notes include Ventum Financial's C$5.50 target and TD Securities' "Strong-Buy" rating.
• ATEX is a South America-focused mineral explorer whose flagship is the Valeriano Copper-Gold project in Chile; the company has a market cap of C$1.33B and a negative P/E of -14.48.

ATEX Resources Inc. (CVE:ATX - Get Free Report) shares shot up 1.1% on Tuesday . The stock traded as high as C$3.69 and last traded at C$3.62. 363,043 shares were traded during mid-day trading, a decline of 52% from the average session volume of 751,666 shares. The stock had previously closed at C$3.58.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ATX. Ventum Financial set a C$5.50 target price on shares of ATEX Resources and gave the stock a "buy" rating in a research report on Monday, March 2nd. TD Securities raised shares of ATEX Resources to a "strong-buy" rating in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of C$4.67.

ATEX Resources Trading Up 1.1%

The business's 50-day moving average is C$3.66 and its two-hundred day moving average is C$3.22. The firm has a market cap of C$1.33 billion, a P/E ratio of -14.48 and a beta of 2.62.

ATEX Resources Company Profile

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. ATEX Resources Inc was incorporated in 1981 and is headquartered in Toronto, Canada.

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