Brokerages Set Torex Gold Resources Inc. (TSE:TXG) Target Price at C$55.00

Torex Gold Resources Inc. (TSE:TXG - Get Free Report) has received a consensus recommendation of "Buy" from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$55.00.

A number of research firms have recently weighed in on TXG. CIBC raised shares of Torex Gold Resources from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from C$42.00 to C$58.00 in a research report on Monday, April 14th. TD Securities boosted their price objective on shares of Torex Gold Resources from C$39.00 to C$57.00 in a research report on Tuesday, April 15th. Desjardins set a C$60.00 target price on shares of Torex Gold Resources and gave the company a "buy" rating in a report on Thursday, June 5th. National Bankshares set a C$70.00 target price on shares of Torex Gold Resources and gave the company an "outperform" rating in a report on Thursday, June 5th. Finally, Cibc World Mkts upgraded shares of Torex Gold Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th.

Torex Gold Resources Price Performance

TXG traded up C$0.28 during midday trading on Wednesday, reaching C$43.38. 239,930 shares of the company's stock were exchanged, compared to its average volume of 322,376. The business's 50-day moving average price is C$44.36 and its 200 day moving average price is C$37.87. The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12. The stock has a market capitalization of C$2.63 billion, a PE ratio of 23.32, a P/E/G ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 1-year low of C$19.01 and a 1-year high of C$49.25.

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.