Torex Gold Resources (TSE:TXG) Price Target Raised to C$50.00

Torex Gold Resources (TSE:TXG - Get Free Report) had its price target raised by analysts at Scotiabank from C$48.00 to C$50.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's target price points to a potential upside of 7.92% from the stock's previous close.

Several other research firms also recently weighed in on TXG. TD Securities lifted their target price on Torex Gold Resources from C$39.00 to C$57.00 in a research report on Tuesday, April 15th. Royal Bank of Canada raised their price objective on shares of Torex Gold Resources from C$50.00 to C$60.00 in a research note on Wednesday. Desjardins reaffirmed a "buy" rating on shares of Torex Gold Resources in a research note on Thursday, April 24th. CIBC upgraded shares of Torex Gold Resources from a "neutral" rating to an "outperform" rating and increased their target price for the stock from C$42.00 to C$58.00 in a report on Monday, April 14th. Finally, 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. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of C$54.50.

Torex Gold Resources Trading Down 1.0%

Shares of TSE TXG traded down C$0.49 during trading on Wednesday, reaching C$46.33. The stock had a trading volume of 444,265 shares, compared to its average volume of 328,885. 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 company has a market cap of C$2.81 billion, a P/E ratio of 24.91, a PEG 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 business's 50-day moving average price is C$43.26 and its 200-day moving average price is C$35.43.

About Torex Gold Resources

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.