Torex Gold Resources (TSE:TXG) Price Target Raised to C$90.00 at CIBC

Key Points

• CIBC raised its price target for Torex Gold Resources from C$66.00 to C$90.00, indicating a potential upside of 46.06% from the stock's previous close.
• Other analysts have also increased their target prices, with the consensus rating now at "Buy" and an average target price of C$66.40.
• Torex Gold Resources has a market capitalization of C$5.31 billion and traded at C$61.62, reflecting a robust trading volume compared to its average.

Torex Gold Resources (TSE:TXG - Get Free Report) had its target price boosted by CIBC from C$66.00 to C$90.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. CIBC's price target suggests a potential upside of 46.06% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Raymond James Financial raised their target price on shares of Torex Gold Resources from C$55.00 to C$58.00 in a report on Thursday, August 21st. National Bankshares raised their target price on shares of Torex Gold Resources from C$75.00 to C$86.00 and gave the stock an "outperform" rating in a report on Wednesday, October 15th. TD Securities decreased 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 note on Friday, August 8th. 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 note on Tuesday, July 29th. Finally, Canaccord Genuity Group raised their price objective on shares of Torex Gold Resources from C$64.00 to C$77.00 in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$66.40.

Torex Gold Resources Price Performance

TSE:TXG traded up C$3.30 during trading hours on Thursday, reaching C$61.62. 524,116 shares of the company's stock were exchanged, compared to its average volume of 367,725. The company has a market capitalization of C$5.31 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 0.02 and a beta of 0.87. Torex Gold Resources has a 12 month low of C$26.29 and a 12 month high of C$69.27. 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 business's 50-day simple moving average is C$53.68 and its two-hundred day simple moving average is C$46.98.

Torex Gold Resources Company Profile

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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