Torex Gold Resources (TSE:TXG) Price Target Raised to C$38.00 at BMO Capital Markets

Torex Gold Resources (TSE:TXG) had its target price lifted by analysts at BMO Capital Markets from C$36.00 to C$38.00 in a report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 8.79% from the stock’s previous close.

A number of other equities analysts also recently issued reports on TXG. Raymond James raised their price objective on shares of Torex Gold Resources from C$33.00 to C$34.00 in a report on Tuesday, January 7th. Scotiabank raised their price objective on shares of Torex Gold Resources from C$33.00 to C$37.00 in a report on Thursday, November 21st. CIBC raised their price objective on shares of Torex Gold Resources from C$33.00 to C$34.50 in a report on Monday, December 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Torex Gold Resources currently has an average rating of “Buy” and a consensus price target of C$35.69.

Torex Gold Resources Stock Performance

Shares of TSE TXG traded up C$1.65 during trading on Thursday, reaching C$34.93. 430,638 shares of the company traded hands, compared to its average volume of 256,565. 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 stock has a market capitalization of C$2.12 billion, a PE ratio of 18.78, a P/E/G ratio of 0.02 and a beta of 1.34. The firm has a 50 day simple moving average of C$29.85 and a 200-day simple moving average of C$27.91. Torex Gold Resources has a 52-week low of C$13.20 and a 52-week high of C$35.89.

Insiders Place Their Bets

In other Torex Gold Resources news, Director Caroline Donally acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 20th. The stock was purchased at an average cost of C$27.91 per share, with a total value of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total value of C$162,898.31. 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.