Torex Gold Resources Inc. (TSE:TXG) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Torex Gold Resources Inc. has received a consensus recommendation of "Buy" from six analysts, with an average 12-month price target of C$63.20.
• Investment firms such as National Bankshares have significantly raised their price targets on the stock, with National Bankshares setting a new target of C$86.00.
• The company operates the Morelos Gold Property in Mexico and has a market capitalization of C$5.86 billion.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report) has been given an average recommendation of "Buy" by the six ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$63.20.

Several equities analysts have recently weighed in on the stock. National Bankshares raised their price target on shares of Torex Gold Resources from C$75.00 to C$86.00 and gave the stock an "outperform" rating in a research note on Wednesday. Desjardins raised their price objective on shares of Torex Gold Resources from C$63.00 to C$65.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Canaccord Genuity Group raised their price objective on shares of Torex Gold Resources from C$64.00 to C$77.00 in a research report on Thursday, October 2nd. TD Securities cut their price objective on shares of Torex Gold Resources from C$64.00 to C$62.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Raymond James Financial raised their price objective on shares of Torex Gold Resources from C$55.00 to C$58.00 in a research report on Thursday, August 21st.

Torex Gold Resources Stock Performance

TSE:TXG opened at C$67.93 on Friday. The company's 50-day moving average price is C$52.14 and its 200-day moving average price is C$46.32. The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. The company has a market cap of C$5.86 billion, a P/E ratio of 27.95, a P/E/G ratio of 0.02 and a beta of 0.87. Torex Gold Resources has a twelve month low of C$26.29 and a twelve month high of C$69.27.

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.

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