Torex Gold Resources (TSE:TXG) Hits New 12-Month High – What’s Next?

Torex Gold Resources Inc. (TSE:TXG)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$70.00 and last traded at C$68.44, with a volume of 122155 shares trading hands. The stock had previously closed at C$66.77.

Wall Street Analysts Forecast Growth

TXG has been the topic of several research reports. Canaccord Genuity Group increased their target price on Torex Gold Resources from C$64.00 to C$77.00 in a research report on Thursday, October 2nd. National Bankshares reduced their price objective on shares of Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating for the company in a research report on Tuesday, December 9th. CIBC raised their target price on Torex Gold Resources from C$66.00 to C$90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$69.20.

Torex Gold Resources Stock Performance

The stock has a fifty day simple moving average of C$62.08 and a 200-day simple moving average of C$52.50. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. The stock has a market cap of C$6.62 billion, a P/E ratio of 20.26, a PEG ratio of 0.02 and a beta of 0.83.

Torex Gold Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, December 4th were paid a $0.15 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.60 annualized dividend and a yield of 0.9%.

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. Within this property, the company has two assets: the El Limon-Guajes Mine, an open pit gold deposit located north of the Balsas river, and the Media Luna Project, which is at an advanced stage of exploration.