Torex Gold Resources Inc. (TSE:TXG - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$38.44 and traded as high as C$43.37. Torex Gold Resources shares last traded at C$42.30, with a volume of 239,704 shares changing hands.
Analysts Set New Price Targets
Several brokerages recently issued reports on TXG. Cibc World Mkts upgraded Torex Gold Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Desjardins set a C$60.00 price target on Torex Gold Resources and gave the company a "buy" rating in a research note on Thursday, June 5th. Cormark boosted their price target on Torex Gold Resources from C$46.00 to C$55.00 in a research note on Monday, April 14th. CIBC upgraded Torex Gold Resources from a "neutral" rating to an "outperform" rating and boosted their price target for the company from C$42.00 to C$58.00 in a research note on Monday, April 14th. Finally, Raymond James Financial increased their target price on Torex Gold Resources from C$34.00 to C$47.00 in a report on Friday, April 4th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of C$55.00.
Get Our Latest Analysis on Torex Gold Resources
Torex Gold Resources Stock Performance
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 market cap of C$2.60 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 0.02 and a beta of 1.34. The stock has a 50 day moving average price of C$44.11 and a two-hundred day moving average price of C$38.71.
About Torex Gold Resources
(
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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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