Torex Gold Resources (TSE:TXG) Price Target Cut to C$62.00 by Analysts at TD Securities

Key Points

• TD Securities has lowered its price target for Torex Gold Resources from C$64.00 to C$62.00, while maintaining a "buy" rating on the stock, indicating a potential upside of 51.00% from its current price.
• Other analysts have also increased their price targets for Torex Gold Resources, with most recent adjustments bringing targets as high as C$70.00, suggesting strong market support.
• The stock is currently trading at C$41.06, with a market cap of C$2.49 billion and a twelve-month price range between C$20.68 and C$49.25.

Torex Gold Resources (TSE:TXG - Get Free Report) had its price objective reduced by stock analysts at TD Securities from C$64.00 to C$62.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' price target suggests a potential upside of 46.95% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. Scotiabank increased their price objective on shares of Torex Gold Resources from C$48.00 to C$50.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Raymond James Financial boosted their price target on shares of Torex Gold Resources from C$47.00 to C$55.00 in a research report on Tuesday, July 29th. CIBC raised shares of Torex Gold Resources from a "neutral" rating to an "outperform" rating and boosted their price target for the company from C$42.00 to C$58.00 in a research report on Monday, April 14th. Cormark boosted their price target on shares of Torex Gold Resources from C$46.00 to C$55.00 in a research report on Monday, April 14th. Finally, Royal Bank Of Canada boosted their price target on shares of Torex Gold Resources from C$60.00 to C$65.00 in a research report on Thursday, June 12th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$59.56.

Torex Gold Resources Stock Up 0.6%

Shares of TSE:TXG traded up C$0.25 during trading hours on Friday, reaching C$42.19. The stock had a trading volume of 62,358 shares, compared to its average volume of 324,602. Torex Gold Resources has a 1 year low of C$22.80 and a 1 year high of C$49.25. The firm's 50 day moving average is C$43.62 and its 200-day moving average is C$40.14. 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$2.56 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 0.02 and a beta of 1.34.

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.