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

Torex Gold Resources Inc. (TSE:TXG) shares hit a new 52-week high on Monday . The stock traded as high as C$56.89 and last traded at C$56.25, with a volume of 112439 shares traded. The stock had previously closed at C$55.16.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank Of Canada increased their price target on Torex Gold Resources from C$60.00 to C$65.00 in a research report on Thursday, June 12th. Scotiabank increased their price target on Torex Gold Resources from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. TD Securities lowered their target price on shares of Torex Gold Resources from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Raymond James Financial increased their target price on shares of Torex Gold Resources from C$55.00 to C$58.00 in a research note on Thursday, August 21st. Finally, National Bankshares set a C$70.00 target price on shares of Torex Gold Resources and gave the stock an “outperform” rating in a research note on Thursday, June 5th. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$59.89.

Torex Gold Resources Price Performance

The stock has a market capitalization of C$4.91 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 0.02 and a beta of 0.70. The stock’s 50 day moving average is C$45.11 and its two-hundred day moving average is C$43.18. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

About Torex Gold Resources

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.