Torex Gold Resources (TSE:TXG) Price Target Raised to C$56.00 at BMO Capital Markets

Torex Gold Resources (TSE:TXG) had its price objective raised by BMO Capital Markets from C$44.00 to C$56.00 in a research note released on Friday,BayStreet.CA reports.

Several other equities research analysts have also weighed in on the company. Desjardins reissued a “buy” rating on shares of Torex Gold Resources in a report on Thursday, April 24th. Royal Bank of Canada lifted their target price on shares of Torex Gold Resources from C$44.00 to C$45.00 in a research note on Friday, April 4th. CIBC raised shares of Torex Gold Resources from a “neutral” rating to an “outperform” rating and boosted their price target for the company from C$42.00 to C$58.00 in a research report on Monday, April 14th. Raymond James raised their price objective on shares of Torex Gold Resources from C$34.00 to C$47.00 in a report on Friday, April 4th. Finally, Cibc World Mkts raised shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Torex Gold Resources presently has a consensus rating of “Buy” and an average price target of C$47.19.

Torex Gold Resources Price Performance

Shares of TSE:TXG opened at C$43.59 on Friday. The company has a market capitalization of C$2.64 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The company’s 50-day moving average is C$38.75 and its 200 day moving average is C$32.92. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. Torex Gold Resources has a fifty-two week low of C$18.79 and a fifty-two week high of C$49.07.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala.