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

Key Points

• Torex Gold Resources Inc. reached a new 52-week high, trading at C$54.78, with a recent volume of 99,026 shares.
• Analyst ratings for Torex Gold include a consensus "Buy" rating and target prices ranging from C$58.00 to C$70.00, indicating strong market confidence.
• The company's market cap is C$4.71 billion, with a price-to-earnings ratio of 22.50 and a debt-to-equity ratio of 8.09.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as C$54.78 and last traded at C$54.71, with a volume of 99026 shares changing hands. The stock had previously closed at C$53.54.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TXG. National Bankshares set a C$70.00 price target on Torex Gold Resources and gave the company an "outperform" rating in a report on Thursday, June 5th. Desjardins raised their price target 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. Scotiabank raised their price target 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. Raymond James Financial raised their price target on Torex Gold Resources from C$55.00 to C$58.00 in a report on Thursday, August 21st. Finally, Royal Bank Of Canada raised their price target on Torex Gold Resources from C$60.00 to C$65.00 in a report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of C$59.89.

Torex Gold Resources Price Performance

The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. The stock has a market capitalization of C$4.76 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 0.02 and a beta of 0.70. The firm has a 50-day moving average price of C$45.11 and a 200 day moving average price of C$43.03.

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.