Torex Gold Resources (TSE:TXG) Price Target Raised to C$55.00 at Raymond James Financial

Key Points

• Raymond James Financial has raised the price target for Torex Gold Resources from C$47.00 to C$55.00, indicating a potential upside of 34.24% based on the current stock price.
• Multiple analysts have recently increased their price targets for Torex Gold, with TD Securities setting a new target of C$57.00 and Desjardins giving a target of C$60.00 while maintaining a "buy" rating.
• Torex Gold's stock has recently traded down 0.7%, with its current price around C$40.97, reflecting a market capitalization of C$2.48 billion.

Torex Gold Resources (TSE:TXG - Get Free Report) had its price objective upped by equities researchers at Raymond James Financial from C$47.00 to C$55.00 in a research note issued on Tuesday,BayStreet.CA reports. Raymond James Financial's price target would indicate a potential upside of 34.24% from the company's current price.

Other research analysts also recently issued research reports about the company. TD Securities increased their price target on Torex Gold Resources from C$39.00 to C$57.00 in a report on Tuesday, April 15th. Desjardins set a C$60.00 target price on Torex Gold Resources and gave the stock a "buy" rating in a report on Thursday, June 5th. Royal Bank Of Canada increased their target price on Torex Gold Resources from C$60.00 to C$65.00 in a report on Thursday, June 12th. Scotiabank increased their target price on Torex Gold Resources from C$48.00 to C$50.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Cormark increased their target price on Torex Gold Resources from C$46.00 to C$55.00 in a report on Monday, April 14th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Torex Gold Resources has an average rating of "Buy" and a consensus target price of C$59.00.

Torex Gold Resources Stock Down 0.7%

TXG traded down C$0.28 on Tuesday, reaching C$40.97. The company's stock had a trading volume of 191,336 shares, compared to its average volume of 316,119. The stock has a market cap of C$2.48 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth 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. 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 business's 50 day moving average is C$44.38 and its 200 day moving average is C$39.31.

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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