Torex Gold Resources (TSE:TXG) Sets New 12-Month High – Here’s Why

Shares of Torex Gold Resources Inc. (TSE:TXG) hit a new 52-week high during trading on Thursday . The company traded as high as C$35.30 and last traded at C$35.09, with a volume of 144051 shares traded. The stock had previously closed at C$33.28.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Torex Gold Resources from C$34.00 to C$37.00 in a research report on Friday, December 6th. Scotiabank boosted their price objective on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. Raymond James lifted their price target on Torex Gold Resources from C$33.00 to C$34.00 in a report on Tuesday, January 7th. Finally, CIBC increased their target price on Torex Gold Resources from C$33.00 to C$34.50 in a research note on Monday, December 2nd. Four 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.com, Torex Gold Resources has a consensus rating of “Buy” and an average price target of C$34.81.

Torex Gold Resources Stock Up 5.4 %

The firm’s 50-day moving average price is C$29.85 and its 200 day moving average price is C$27.91. 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 capitalization of C$2.13 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.02 and a beta of 1.34.

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 on Monday, January 20th. The stock was bought at an average price of C$27.91 per share, for a total transaction of C$27,908.00. Company insiders own 0.35% of the company’s stock.

Torex Gold Resources Company Profile

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.