Torex Gold Resources (TSE:TXG) Reaches New 1-Year High – Should You Buy?

Torex Gold Resources Inc. (TSE:TXG) shares hit a new 52-week high on Tuesday . The company traded as high as C$34.34 and last traded at C$33.30, with a volume of 241527 shares trading hands. The stock had previously closed at C$33.15.

Analysts Set New Price Targets

A number of research firms recently issued reports on TXG. Scotiabank increased their price target on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. Royal Bank of Canada raised their target price on Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. TD Securities lifted their price target on shares of Torex Gold Resources from C$34.00 to C$38.00 in a research report on Friday, October 18th. CIBC lifted their target price on shares of Torex Gold Resources from C$33.00 to C$34.50 in a report on Monday, December 2nd. Finally, Raymond James boosted their price target on Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$34.81.

Torex Gold Resources Price Performance

The company has a current ratio of 1.09, a quick ratio of 2.12 and a debt-to-equity ratio of 7.32. The stock has a 50 day simple moving average of C$29.39 and a 200-day simple moving average of C$27.48. The firm has a market cap of C$2.93 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34.

Insider Buying and Selling at Torex Gold Resources

In other news, Director Caroline Donally purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 20th. The stock was bought 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 Torex Gold Resources stock in a transaction that occurred on 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 purchased a total of 2,000 shares of company stock valued at $55,927 in the last three months. 0.35% of the stock is currently owned by corporate 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.