Royal Bank of Canada Issues Positive Forecast for Torex Gold Resources (TSE:TXG) Stock Price

Torex Gold Resources (TSE:TXG - Get Free Report) had its price target boosted by equities research analysts at Royal Bank of Canada from C$60.00 to C$65.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Royal Bank of Canada's price target would suggest a potential upside of 34.49% from the stock's previous close.

TXG has been the subject of a number of other reports. Cibc World Mkts upgraded Torex Gold Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. TD Securities raised their price objective on Torex Gold Resources from C$39.00 to C$57.00 in a research note on Tuesday, April 15th. Scotiabank raised their price objective on Torex Gold Resources from C$48.00 to C$50.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. National Bankshares set a C$70.00 price objective on Torex Gold Resources and gave the company an "outperform" rating in a research note on Thursday, June 5th. Finally, Raymond James raised their price objective on Torex Gold Resources from C$34.00 to C$47.00 in a research note on Friday, April 4th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$55.00.

Torex Gold Resources Trading Up 0.1%

Torex Gold Resources stock traded up C$0.04 during trading hours on Thursday, hitting C$48.33. The stock had a trading volume of 399,228 shares, compared to its average volume of 327,865. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. The stock has a market cap of C$2.93 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a one year low of C$19.01 and a one year high of C$49.25. The business's 50 day simple moving average is C$44.15 and its 200-day simple moving average is C$36.04.

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.