Torex Gold Resources (TSE:TXG) Reaches New 1-Year High – What’s Next?

Torex Gold Resources Inc. (TSE:TXG) shares reached a new 52-week high on Wednesday . The stock traded as high as C$33.67 and last traded at C$33.67, with a volume of 51596 shares trading hands. The stock had previously closed at C$32.11.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Raymond James upped their price objective on Torex Gold Resources from C$33.00 to C$34.00 in a report on Tuesday, January 7th. TD Securities boosted their price target on shares of Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Royal Bank of Canada lifted their price target on shares of Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Scotiabank boosted their target price on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. Finally, National Bankshares upgraded Torex Gold Resources from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$31.25 to C$37.75 in a research note on Thursday, October 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$34.81.

Torex Gold Resources Stock Performance

The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. The business’s 50-day simple moving average is C$29.09 and its two-hundred day simple moving average is C$27.16. The firm has a market cap of C$2.85 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 0.02 and a beta of 1.34.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$1.02 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.20. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. The firm had revenue of C$427.96 million for the quarter. As a group, sell-side analysts expect that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current fiscal year.

Insider Buying and Selling at Torex Gold Resources

In related news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the company’s stock in a transaction that occurred 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. Also, Director Caroline Donally bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 20th. The shares were purchased at an average price of C$27.91 per share, for a total transaction of C$27,908.00. In the last 90 days, insiders have bought 2,000 shares of company stock worth $55,927. Corporate insiders own 0.35% of the company’s stock.

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.