National Bankshares Issues Positive Forecast for Torex Gold Resources (TSE:TXG) Stock Price

Key Points

• National Bankshares has raised its price target for Torex Gold Resources (TSE:TXG) from C$71.00 to C$75.00, indicating a potential upside of 35.38% from the current stock price.
• Several other financial institutions have also updated their price targets for TXG, with an average target price now sitting at C$60.44 and a consensus rating of "Buy."
• As of mid-day trading on Wednesday, TXG shares were down C$2.06 to C$55.40, with a market cap of C$4.78 billion and a P/E ratio of 22.80.

Torex Gold Resources (TSE:TXG - Get Free Report) had its price target boosted by equities researchers at National Bankshares from C$71.00 to C$75.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' price objective would suggest a potential upside of 35.38% from the company's previous close.

TXG has been the subject of a number of other research reports. Raymond James Financial lifted their target price on shares of Torex Gold Resources from C$55.00 to C$58.00 in a research report on Thursday, August 21st. Scotiabank lifted their price objective on Torex Gold Resources from C$48.00 to C$50.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. TD Securities reduced their target price on Torex Gold Resources from C$64.00 to C$62.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada raised their price target on Torex Gold Resources from C$60.00 to C$65.00 in a research report on Thursday, June 12th. Finally, Desjardins boosted their price target on Torex Gold Resources from C$63.00 to C$65.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, Torex Gold Resources presently has an average rating of "Buy" and an average target price of C$60.44.

Torex Gold Resources Price Performance

Shares of TXG stock traded down C$2.06 during mid-day trading on Wednesday, reaching C$55.40. The stock had a trading volume of 322,358 shares, compared to its average volume of 348,661. The company has a market cap of C$4.78 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 0.02 and a beta of 0.70. The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. Torex Gold Resources has a 12-month low of C$25.25 and a 12-month high of C$58.63. The business has a 50-day simple moving average of C$45.68 and a 200 day simple moving average of C$43.54.

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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