Torex Gold Resources (TSE:TXG) Reaches New 1-Year High - Still a Buy?

Key Points

• Torex Gold Resources Inc. has reached a new 52-week high with its stock trading at C$64.00, marking a significant performance increase.
• Several analysts have updated their price targets, with estimates ranging from C$58.00 to C$77.00, maintaining an overall average rating of "Buy" for the stock.
• The company operates in the Guerrero Gold Belt in Mexico and has a robust financial profile, including a market capitalization of C$5.58 billion and a P/E ratio of 26.63.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$64.25 and last traded at C$64.00, with a volume of 57197 shares changing hands. The stock had previously closed at C$62.11.

Analysts Set New Price Targets

TXG has been the topic of a number of research analyst reports. 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. Desjardins lifted their price objective on Torex Gold Resources from C$63.00 to C$65.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Raymond James Financial lifted their price objective on Torex Gold Resources from C$55.00 to C$58.00 in a research report on Thursday, August 21st. Canaccord Genuity Group lifted their price objective on Torex Gold Resources from C$64.00 to C$77.00 in a research report on Thursday, October 2nd. Finally, National Bankshares boosted their price target on Torex Gold Resources from C$71.00 to C$75.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$62.10.

Torex Gold Resources Stock 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 business has a 50-day moving average price of C$50.63 and a 200 day moving average price of C$45.84. The stock has a market capitalization of C$5.58 billion, a P/E ratio of 26.63, a PEG ratio of 0.02 and a beta of 0.87.

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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