Royal Bank of Canada Forecasts Strong Price Appreciation for Torex Gold Resources (TSE:TXG) Stock

Torex Gold Resources (TSE:TXG - Free Report) had its price objective lifted by Royal Bank of Canada from C$50.00 to C$60.00 in a report published on Wednesday morning,BayStreet.CA reports.

Several other brokerages have also recently weighed in on TXG. CIBC raised shares of Torex Gold Resources from a "neutral" rating to an "outperform" rating and raised their target price for the company from C$42.00 to C$58.00 in a report on Monday, April 14th. Cibc World Mkts upgraded shares of Torex Gold Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. National Bankshares increased their price target on shares of Torex Gold Resources from C$61.50 to C$70.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. TD Securities increased their price target on shares of Torex Gold Resources from C$39.00 to C$57.00 in a research note on Tuesday, April 15th. Finally, Cormark increased their price target on shares of Torex Gold Resources from C$46.00 to C$55.00 in a research note on Monday, April 14th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$54.50.

Torex Gold Resources Stock Up 2.1%

Shares of TXG traded up C$0.98 during mid-day trading on Wednesday, hitting C$46.82. 426,359 shares of the company's stock were exchanged, compared to its average volume of 327,817. The company has a market cap of C$2.84 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a fifty-two week low of C$19.01 and a fifty-two week high of C$49.07. 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's 50-day moving average is C$43.13 and its 200-day moving average is C$35.30.

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.