Torex Gold Resources (TSE:TXG) Sets New 52-Week High – Here’s Why

Torex Gold Resources Inc. (TSE:TXG) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$35.82 and last traded at C$35.81, with a volume of 144914 shares. The stock had previously closed at C$35.12.

Analysts Set New Price Targets

TXG has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on shares of Torex Gold Resources from C$36.00 to C$38.00 in a research report on Thursday, February 20th. CIBC lifted their target price on shares of Torex Gold Resources from C$36.00 to C$42.00 in a report on Friday, February 21st. Raymond James raised their price objective on Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. Royal Bank of Canada increased their target price on Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. Finally, Scotiabank upped their price target on Torex Gold Resources from C$33.00 to C$37.00 in a report on Thursday, November 21st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$36.53.

Torex Gold Resources Stock Performance

The stock has a market cap of C$2.19 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. The business has a 50 day moving average price of C$31.38 and a two-hundred day moving average price of C$29.15.

Insider Buying and Selling

In other Torex Gold Resources news, Director Caroline Donally acquired 1,000 shares of the stock in a transaction on Monday, January 20th. The stock was acquired at an average price of C$27.91 per share, for a total transaction of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of C$28.97, for a total transaction of C$162,898.31. 0.35% of the stock is owned by insiders.

About Torex Gold Resources

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.