Torex Gold Resources (TSE:TXG) Sets New 52-Week High - Still a Buy?

Key Points

• Torex Gold Resources shares reached a new 52-week high of C$58.69, closing at C$58.05 with a trading volume of 57,364 shares.
• Analysts have mostly rated the stock as Buy, with a few upgrades including National Bankshares raising their target price to C$75.00.
• The company has a market cap of C$4.99 billion and a price-to-earnings ratio of 23.82, indicating strong market performance.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$58.69 and last traded at C$58.05, with a volume of 57364 shares. The stock had previously closed at C$56.93.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. National Bankshares raised their target price on Torex Gold Resources from C$71.00 to C$75.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Scotiabank increased their price target on Torex Gold Resources from C$48.00 to C$50.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Raymond James Financial increased their price target on Torex Gold Resources from C$55.00 to C$58.00 in a report on Thursday, August 21st. TD Securities lowered their price target on Torex Gold Resources from C$64.00 to C$62.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Desjardins raised their target price 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. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$60.44.

Torex Gold Resources Stock Performance

The company has a market cap of C$4.99 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 0.02 and a beta of 0.70. The firm has a 50-day simple moving average of C$46.48 and a 200 day simple moving average of C$44.03. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09.

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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