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TD Securities Forecasts Strong Price Appreciation for Torex Gold Resources (TSE:TXG) Stock

Torex Gold Resources logo with Basic Materials background

Torex Gold Resources (TSE:TXG - Free Report) had its price target hoisted by TD Securities from C$39.00 to C$57.00 in a report released on Tuesday,BayStreet.CA reports.

Several other equities research analysts have also recently weighed in on the company. CIBC upgraded Torex Gold Resources from a "neutral" rating to an "outperform" rating and upped their price target for the company from C$42.00 to C$58.00 in a research report on Monday, April 14th. BMO Capital Markets increased their target price on shares of Torex Gold Resources from C$36.00 to C$38.00 in a research note on Thursday, February 20th. Raymond James raised their price target on shares of Torex Gold Resources from C$34.00 to C$47.00 in a report on Friday, April 4th. Royal Bank of Canada upped their price target on shares of Torex Gold Resources from C$44.00 to C$45.00 in a report on Friday, April 4th. Finally, Cormark lifted their price objective on Torex Gold Resources from C$46.00 to C$55.00 in a research note on Monday, April 14th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Torex Gold Resources currently has a consensus rating of "Buy" and a consensus price target of C$45.19.

Check Out Our Latest Research Report on TXG

Torex Gold Resources Stock Performance

Shares of Torex Gold Resources stock traded down C$1.00 during trading hours on Tuesday, reaching C$47.24. The company had a trading volume of 508,335 shares, compared to its average volume of 326,368. The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12. Torex Gold Resources has a one year low of C$18.79 and a one year high of C$48.59. The firm has a market cap of C$2.86 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The business has a fifty day simple moving average of C$36.47 and a 200 day simple moving average of C$31.66.

Insider Activity at Torex Gold Resources

In related news, Director Caroline Donally acquired 1,000 shares of the firm's stock in a transaction dated Monday, January 20th. The shares were purchased at an average price of C$27.91 per share, for a total transaction of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of C$28.97, for a total value of C$162,898.31. 0.35% of the stock is currently owned by insiders.

Torex Gold Resources Company Profile

(Get Free Report)

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.

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