Torex Gold Resources (TXG) Trading Up 51.4%

Torex Gold Resources (TSE:TXG)’s share price was up 51.4% on Friday . The company traded as high as C$11.72 and last traded at C$11.60. Approximately 1,511,749 shares traded hands during trading, an increase of 172% from the average daily volume of 554,851 shares. The stock had previously closed at C$7.66.

A number of equities analysts have weighed in on TXG shares. Desjardins reissued a “hold” rating on shares of Torex Gold Resources in a research note on Monday, December 11th. BMO Capital Markets lowered their price objective on Torex Gold Resources from C$35.00 to C$25.00 in a research note on Monday, December 18th. Scotiabank set a C$15.00 price objective on Torex Gold Resources and gave the stock a “sector perform” rating in a research note on Tuesday, January 9th. Clarus Securities reissued a “speculative buy” rating on shares of Torex Gold Resources in a research note on Wednesday, January 17th. Finally, Canaccord Genuity lowered their price objective on Torex Gold Resources from C$19.00 to C$18.50 in a research note on Friday, January 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Torex Gold Resources currently has an average rating of “Buy” and a consensus price target of C$16.64.

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Torex Gold Resources Company Profile

Torex Gold Resources Inc engages in the exploration, development, and operation of mineral properties. The company explores for gold, silver, and copper deposits. It principally holds a 100% interest in the Morelos Gold property comprising the El Limón Guajes mine and the Media Luna project covering a total area of approximately 29,000 hectares located in the Guerrero Gold Belt in southern Mexico.

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