Torex Gold Resources (TSE:TXG) Shares Up 10.9% – Here’s Why

Torex Gold Resources Inc. (TSE:TXG)’s share price shot up 10.9% during trading on Thursday . The company traded as high as C$67.03 and last traded at C$66.63. 318,415 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 691,123 shares. The stock had previously closed at C$60.09.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Canadian Imperial Bank of Commerce boosted their price target on Torex Gold Resources from C$90.00 to C$100.00 in a research note on Wednesday, February 4th. TD Securities boosted their price objective on Torex Gold Resources from C$78.00 to C$96.00 in a report on Thursday, January 22nd. Finally, Scotiabank boosted their price objective on Torex Gold Resources from C$72.00 to C$95.00 in a report on Monday, January 26th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Torex Gold Resources currently has a consensus rating of “Buy” and a consensus price target of C$83.75.

Torex Gold Resources Price Performance

The company has a current ratio of 1.16, a quick ratio of 2.12 and a debt-to-equity ratio of 8.34. The business has a 50-day moving average price of C$65.76 and a 200 day moving average price of C$65.41. The stock has a market cap of C$6.23 billion, a PE ratio of 14.41, a PEG ratio of 0.02 and a beta of 1.85.

Torex Gold Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 19th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. Torex Gold Resources’s dividend payout ratio is 2.37%.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.