Torex Gold Resources (OTCMKTS:TORXF) had its target price decreased by analysts at Scotiabank from $29.00 to $24.00 in a report issued on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 80.07% from the company’s previous close.
A number of other brokerages have also issued reports on TORXF. CIBC reduced their target price on Torex Gold Resources from $28.50 to $26.50 and set a “neutral” rating for the company in a research note on Monday, February 8th. BMO Capital Markets cut their price target on Torex Gold Resources from $34.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, February 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Torex Gold Resources presently has a consensus rating of “Buy” and a consensus price target of $28.50.
Shares of TORXF stock opened at $13.33 on Tuesday. The business has a fifty day moving average of $12.86 and a 200 day moving average of $14.22. Torex Gold Resources has a 1 year low of $9.04 and a 1 year high of $19.45.
Torex Gold Resources Inc engages in the exploration, development, and operation of mineral properties in Mexico. The company explores for gold, silver, copper, and carbon deposits. It holds a 100% interest in the Morelos Gold property comprising the El LimÃ³n Guajes mining complex and the Media Luna deposit that consists of seven mineral concessions covering a total area of approximately 29,000 hectares located in the Guerrero Gold Belt in southern Mexico.
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