ATEX Resources (CVE:ATX) Hits New 52-Week High – Still a Buy?

ATEX Resources Inc. (CVE:ATX) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$3.35 and last traded at C$3.35, with a volume of 148035 shares traded. The stock had previously closed at C$3.20.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ATX shares. Ventum Cap Mkts raised ATEX Resources to a “strong-buy” rating in a report on Tuesday, October 21st. BMO Capital Markets set a C$4.00 price objective on shares of ATEX Resources and gave the stock an “outperform” rating in a research note on Monday, November 10th. Desjardins raised shares of ATEX Resources to a “moderate buy” rating in a report on Thursday, November 6th. TD Securities raised shares of ATEX Resources to a “strong-buy” rating in a report on Tuesday, December 16th. Finally, Stifel Nicolaus lifted their price objective on ATEX Resources from C$4.00 to C$4.50 in a research note on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Strong Buy” and an average price target of C$4.25.

ATEX Resources Stock Up 5.6%

The business has a 50-day simple moving average of C$2.65 and a 200-day simple moving average of C$2.43. The company has a market cap of C$1.17 billion, a PE ratio of -13.52 and a beta of 1.70.

About ATEX Resources

ATEX Resources Inc engages in the exploration and evaluation of mineral properties in South America. Its flagship property is the Valeriano Copper Gold project covering approximately 3,705 hectares located in the north-central Chile. The company was formerly known as Colombia Crest Gold Corp. and changed its name to ATEX Resources Inc in February 2019. ATEX Resources Inc was incorporated in 1981 and is headquartered in Toronto, Canada.