Torex Gold Resources (TSE:TXG) Reaches New 52-Week High – Should You Buy?

Shares of Torex Gold Resources Inc. (TSE:TXG) hit a new 52-week high on Monday . The company traded as high as C$85.00 and last traded at C$82.55, with a volume of 390507 shares changing hands. The stock had previously closed at C$83.11.

Wall Street Analyst Weigh In

Several brokerages have commented on TXG. Royal Bank Of Canada increased their price target on Torex Gold Resources from C$77.00 to C$94.00 in a report on Wednesday, December 10th. Scotiabank lifted their target price on shares of Torex Gold Resources from C$72.00 to C$95.00 in a report on Monday, January 26th. TD Securities boosted their target price on shares of Torex Gold Resources from C$78.00 to C$96.00 in a research report on Thursday, January 22nd. Canadian Imperial Bank of Commerce raised their price target on Torex Gold Resources from C$90.00 to C$100.00 in a research report on Wednesday, February 4th. Finally, National Bank Financial cut their price objective 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. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$78.10.

Torex Gold Resources Price Performance

The company has a quick ratio of 2.12, a current ratio of 1.16 and a debt-to-equity ratio of 8.34. The stock’s 50-day moving average price is C$69.85 and its 200 day moving average price is C$62.17. The firm has a market cap of C$7.32 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 0.02 and a beta of 1.13.

Torex Gold Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 19th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, March 5th. Torex Gold Resources’s dividend payout ratio (DPR) is presently 2.37%.

About Torex Gold Resources

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.