Torex Gold Resources (TSE:TXG) Hits New 1-Year High - Time to Buy?

Key Points

• Torex Gold Resources shares recently hit a new 52-week high, trading as high as C$56.89 and closing at C$56.25.
• Several analysts have raised their price targets for Torex Gold Resources, with Desjardins setting a new target of C$65.00 and National Bankshares at C$70.00, reflecting a strong outlook for the company.
• The company is an intermediate producer of gold with a market cap of C$4.91 billion and has a debt-to-equity ratio of 8.09, indicating significant financial leverage.

Shares of Torex Gold Resources Inc. (TSE:TXG - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as C$56.89 and last traded at C$56.25, with a volume of 112439 shares traded. The stock had previously closed at C$55.16.

Analyst Ratings Changes

Several brokerages have recently weighed in on TXG. Desjardins upped their target price on Torex Gold Resources from C$63.00 to C$65.00 and gave the stock a "buy" rating in a research note 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 research note on Thursday, June 12th. Raymond James Financial upped their target price on Torex Gold Resources from C$55.00 to C$58.00 in a research note on Thursday, August 21st. National Bankshares set a C$70.00 target price on Torex Gold Resources and gave the stock an "outperform" rating in a research note 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 stock an "outperform" rating in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of C$59.89.

Torex Gold Resources Trading Up 4.4%

The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. The company has a fifty day simple moving average of C$45.39 and a 200-day simple moving average of C$43.36. The company has a market capitalization of C$4.97 billion, a PE ratio of 23.70, a PEG ratio of 0.02 and a beta of 0.70.

About Torex Gold Resources

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.