Torex Gold Resources (TSE:TXG) Reaches New 1-Year High - Here's What Happened

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 hit a new 52-week high during trading 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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TXG. Scotiabank increased their price objective on shares of 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. TD Securities reduced their price target on Torex Gold Resources from C$64.00 to C$62.00 and set a "buy" rating on the stock in a report on Friday, August 8th. National Bankshares set a C$70.00 target price on Torex Gold Resources and gave the company an "outperform" rating in a research report on Thursday, June 5th. Desjardins boosted their price objective on Torex Gold Resources from C$63.00 to C$65.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Raymond James Financial boosted their target price on Torex Gold Resources from C$55.00 to C$58.00 in a research note on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of C$59.89.

Torex Gold Resources Trading Up 2.2%

The business has a 50 day moving average price of C$43.21 and a 200-day moving average price of C$41.73. 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$4.47 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 0.02 and a beta of 0.70.

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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