Torex Gold Resources (TSE:TXG) Hits New 12-Month High - Here's Why

Key Points

• Torex Gold Resources' share price reached a new 52-week high of C$52.39 during trading, closing at C$52.09.
• Analyst ratings for Torex Gold Resources are positive, with several brokerages increasing their price targets, resulting in an average rating of "Buy" and an average price target of C$59.89.
• The company, which operates in the Guerrero Gold Belt in Mexico, has solid financial metrics including a market cap of C$4.47 billion and a current ratio of 1.00.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as C$52.39 and last traded at C$52.09, with a volume of 71680 shares changing hands. The stock had previously closed at C$50.70.

Wall Street Analysts Forecast Growth

TXG has been the topic of several research reports. Raymond James Financial upped their target price on Torex Gold Resources from C$55.00 to C$58.00 in a report on Thursday, August 21st. Desjardins upped their target price on 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. Royal Bank Of Canada upped their target price on Torex Gold Resources from C$60.00 to C$65.00 in a report on Thursday, June 12th. National Bankshares set a C$70.00 target price on Torex Gold Resources and gave the company an "outperform" rating in a report on Thursday, June 5th. Finally, Scotiabank upped their target price on Torex Gold Resources from C$48.00 to C$50.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$59.89.

Torex Gold Resources Trading Down 0.6%

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 firm has a market cap of C$4.62 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 0.02 and a beta of 0.70. The business has a 50 day moving average of C$44.10 and a 200 day moving average of C$42.28.

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.