Torex Gold Resources (TSE:TXG) Price Target Raised to C$96.00

Torex Gold Resources (TSE:TXG) had its target price increased by stock analysts at TD Securities from C$78.00 to C$96.00 in a research report issued on Thursday,BayStreet.CA reports. TD Securities’ price target would suggest a potential upside of 20.72% from the stock’s previous close.

A number of other brokerages also recently issued reports on TXG. National Bankshares dropped their price target on 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. Canaccord Genuity Group boosted their price target on shares of Torex Gold Resources from C$64.00 to C$77.00 in a research note on Thursday, October 2nd. Royal Bank Of Canada raised their price objective on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research report on Wednesday, December 10th. Finally, CIBC upped their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$72.60.

Torex Gold Resources Stock Performance

TSE:TXG traded up C$3.08 during trading hours on Thursday, reaching C$79.52. The stock had a trading volume of 308,368 shares, compared to its average volume of 556,923. The stock has a market cap of C$7.65 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 0.02 and a beta of 1.28. The stock has a 50 day simple moving average of C$66.16 and a 200 day simple moving average of C$56.38. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. Torex Gold Resources has a 12-month low of C$28.26 and a 12-month high of C$80.06.

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.