Torex Gold Resources (TSE:TXG) Hits New 12-Month High – Here’s What Happened

Torex Gold Resources Inc. (TSE:TXG) reached a new 52-week high on Tuesday . The stock traded as high as C$34.34 and last traded at C$33.30, with a volume of 241527 shares. The stock had previously closed at C$33.15.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TXG. Scotiabank upped their price objective on Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. TD Securities upped their price target on shares of Torex Gold Resources from C$34.00 to C$38.00 in a research report on Friday, October 18th. CIBC raised their price objective on shares of Torex Gold Resources from C$33.00 to C$34.50 in a research report on Monday, December 2nd. Royal Bank of Canada raised their target price on Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. Finally, Raymond James lifted their price objective on shares of Torex Gold Resources from C$33.00 to C$34.00 in a report on Tuesday, January 7th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Torex Gold Resources has a consensus rating of “Buy” and an average target price of C$34.81.

Torex Gold Resources Price Performance

The firm’s 50 day moving average price is C$29.39 and its two-hundred day moving average price is C$27.48. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12. The stock has a market cap of C$2.93 billion, a PE ratio of 20.55, a P/E/G ratio of 0.02 and a beta of 1.34.

Insider Buying and Selling at Torex Gold Resources

In related news, Director Caroline Donally acquired 1,000 shares of the company’s stock in a transaction dated Monday, January 20th. The stock was purchased at an average price of C$27.91 per share, with a total value of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total transaction of C$162,898.31. Insiders have acquired a total of 2,000 shares of company stock valued at $55,927 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.

About Torex Gold Resources

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.