Torex Gold Resources (TSE:TXG) Reaches New 12-Month High – Here’s Why

Torex Gold Resources Inc. (TSE:TXG)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$75.50 and last traded at C$74.91, with a volume of 41952 shares traded. The stock had previously closed at C$72.43.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TXG shares. Canaccord Genuity Group raised their price target on Torex Gold Resources from C$64.00 to C$77.00 in a research note on Thursday, October 2nd. National Bankshares dropped their target price 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 boosted their price target on shares of Torex Gold Resources from C$66.00 to C$90.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada increased their price target on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research note on Wednesday, December 10th. 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 currently has a consensus rating of “Buy” and an average price target of C$69.20.

Torex Gold Resources Trading Up 3.1%

The stock’s 50 day moving average is C$65.45 and its 200-day moving average is C$55.78. The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. The company has a market cap of C$7.18 billion, a P/E ratio of 21.97, a PEG ratio of 0.02 and a beta of 1.28.

Torex Gold Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, December 4th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, November 20th.

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. 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.