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

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.

Shares of Torex Gold Resources Inc. (TSE:TXG - Get Free Report) have been assigned an average rating of "Buy" from the eight analysts that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$59.00.

A number of research firms recently weighed in on TXG. Scotiabank increased their price target on 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. Cormark raised their target price on shares of Torex Gold Resources from C$46.00 to C$55.00 in a report on Monday, April 14th. Desjardins boosted their price target on shares of Torex Gold Resources from C$63.00 to C$65.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Cibc World Mkts upgraded shares of Torex Gold Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, CIBC upgraded shares of Torex Gold Resources from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from C$42.00 to C$58.00 in a research report on Monday, April 14th.

Torex Gold Resources Price Performance

Shares of TSE:TXG traded up C$0.23 on Friday, reaching C$41.48. 266,938 shares of the company traded hands, compared to its average volume of 320,417. The stock has a market capitalization of C$2.52 billion, a PE ratio of 22.30, a P/E/G ratio of 0.02 and a beta of 1.34. 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 company's 50 day moving average is C$43.86 and its 200-day moving average is C$39.78. Torex Gold Resources has a fifty-two week low of C$19.75 and a fifty-two 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.