ATEX Resources (CVE:ATX) Hits New 12-Month High – Still a Buy?

ATEX Resources Inc. (CVE:ATX)’s stock price reached a new 52-week high on Monday . The stock traded as high as C$4.52 and last traded at C$4.51, with a volume of 383465 shares traded. The stock had previously closed at C$4.34.

Wall Street Analyst Weigh In

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

ATEX Resources Stock Performance

The stock has a market capitalization of C$1.48 billion, a price-to-earnings ratio of -17.16 and a beta of 2.28. The business has a 50-day moving average of C$3.06 and a 200-day moving average of C$2.61.

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.