National Bankshares Has Lowered Expectations for Torex Gold Resources (TSE:TXG) Stock Price

Torex Gold Resources (TSE:TXG) had its price target cut by equities researchers at National Bankshares from C$90.00 to C$85.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 38.53% from the stock’s current price.

A number of other brokerages have also weighed in on TXG. Canaccord Genuity Group increased their price target on Torex Gold Resources from C$64.00 to C$77.00 in a research note on Thursday, October 2nd. CIBC lifted their price objective on Torex Gold Resources from C$66.00 to C$90.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, Raymond James Financial lifted their price target on shares of Torex Gold Resources from C$55.00 to C$58.00 in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, Torex Gold Resources presently has a consensus rating of “Buy” and a consensus target price of C$66.30.

Torex Gold Resources Price Performance

Shares of TXG traded up C$0.96 on Tuesday, reaching C$61.36. The stock had a trading volume of 259,481 shares, compared to its average volume of 395,974. 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 firm has a market capitalization of C$5.90 billion, a PE ratio of 18.05, a PEG ratio of 0.02 and a beta of 0.83. Torex Gold Resources has a twelve month low of C$26.29 and a twelve month high of C$69.27. The firm has a 50-day moving average of C$61.45 and a 200 day moving average of C$51.30.

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.