Analysts Set Torex Gold Resources Inc. (TSE:TXG) Target Price at C$59.00

Key Points

• Torex Gold Resources Inc. has received an average rating of "Buy" from eight analysts, with six recommending a buy and two a strong buy.
• The average 12-month price target for the stock has been set at C$59.00, with recent analysts' reports suggesting price increases from previous targets.
• The company's shares opened at C$39.20 and have a market cap of C$2.38 billion, reflecting a price-to-earnings ratio of 21.08.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report) has earned a consensus recommendation of "Buy" from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$59.00.

Several equities research analysts have recently weighed in on the stock. Raymond James Financial increased their price objective on shares of Torex Gold Resources from C$47.00 to C$55.00 in a research report on Tuesday, July 29th. TD Securities raised their price target on shares of Torex Gold Resources from C$39.00 to C$57.00 in a report on Tuesday, April 15th. Cormark raised their price target on shares of Torex Gold Resources from C$46.00 to C$55.00 in a report on Monday, April 14th. Royal Bank Of Canada raised their price target on shares of Torex Gold Resources from C$60.00 to C$65.00 in a report on Thursday, June 12th. Finally, National Bankshares set a C$70.00 price target on shares of Torex Gold Resources and gave the stock an "outperform" rating in a report on Thursday, June 5th.

Torex Gold Resources Price Performance

TSE:TXG traded up C$2.05 on Friday, hitting C$41.25. The company had a trading volume of 421,484 shares, compared to its average volume of 320,259. The stock has a market capitalization of C$2.50 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 0.02 and a beta of 1.34. 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 firm has a 50 day moving average of C$43.93 and a two-hundred day moving average of C$39.69. Torex Gold Resources has a 52 week low of C$19.01 and a 52 week 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.