Torex Gold Resources (TSE:TXG) Reaches New 1-Year 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) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$54.78 and last traded at C$54.71, with a volume of 99026 shares. The stock had previously closed at C$53.54.

Analyst Ratings Changes

A number of research analysts have issued reports on TXG shares. Desjardins increased their target price on shares of 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. National Bankshares set a C$70.00 target price on shares of Torex Gold Resources and gave the company an "outperform" rating in a report on Thursday, June 5th. Royal Bank Of Canada increased their price target on shares of Torex Gold Resources from C$60.00 to C$65.00 in a research report on Thursday, June 12th. TD Securities lowered their price target on shares of Torex Gold Resources from C$64.00 to C$62.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, Raymond James Financial increased their price target on shares of Torex Gold Resources from C$55.00 to C$58.00 in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$59.89.

Torex Gold Resources Stock Performance

The stock's 50-day moving average is C$44.10 and its 200-day moving average is C$42.42. The stock has a market cap of C$4.71 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 0.02 and a beta of 0.70. The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12.

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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