Desjardins Boosts Torex Gold Resources (TSE:TXG) Price Target to C$65.00

Key Points

• Desjardins has raised its price target for Torex Gold Resources from C$63.00 to C$65.00, indicating a potential upside of 58.65% from the stock's previous close.
• Multiple analysts have increased their price targets for Torex Gold Resources, with targets ranging from C$50.00 to C$70.00, and most ratings on the stock are categorized as a "buy" or "outperform."
• Torex Gold Resources has reported a market capitalization of C$2.48 billion and a recent trading price of C$40.97 per share.

Torex Gold Resources (TSE:TXG - Get Free Report) had its price target raised by equities researchers at Desjardins from C$63.00 to C$65.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price target suggests a potential upside of 58.65% from the stock's previous close.

A number of other analysts have also recently commented on TXG. Scotiabank upped their price target on shares of Torex Gold Resources from C$48.00 to C$50.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Raymond James Financial raised their target price on Torex Gold Resources from C$47.00 to C$55.00 in a research note on Tuesday. National Bankshares set a C$70.00 price target on Torex Gold Resources and gave the company an "outperform" rating in a research report on Thursday, June 5th. TD Securities increased their price target on shares of Torex Gold Resources from C$39.00 to C$57.00 in a report on Tuesday, April 15th. Finally, Cibc World Mkts upgraded shares of Torex Gold Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Torex Gold Resources currently has a consensus rating of "Buy" and an average target price of C$59.00.

Torex Gold Resources Stock Performance

TSE TXG traded down C$0.28 during trading on Tuesday, hitting C$40.97. 191,336 shares of the company's stock traded hands, compared to its average volume of 316,119. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. The stock has a market capitalization of C$2.48 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 12-month low of C$19.01 and a 12-month high of C$49.25. The business has a 50 day moving average of C$44.38 and a 200-day moving average of C$39.31.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala.

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