Torex Gold Resources (TSE:TXG) Hits New 52-Week High – What’s Next?

Torex Gold Resources Inc. (TSE:TXG) shares reached a new 52-week high during trading on Monday . The stock traded as high as C$58.69 and last traded at C$58.05, with a volume of 57364 shares traded. The stock had previously closed at C$56.93.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Raymond James Financial lifted their price target on Torex Gold Resources from C$55.00 to C$58.00 in a research report on Thursday, August 21st. TD Securities lowered their target price on Torex Gold Resources from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Desjardins lifted their target price on Torex Gold Resources from C$63.00 to C$65.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Scotiabank lifted their target price on Torex Gold Resources from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada lifted their target price on Torex Gold Resources from C$60.00 to C$65.00 in a research note on Thursday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$60.44.

Torex Gold Resources Stock Performance

The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12. The stock has a market capitalization of C$4.99 billion, a PE ratio of 23.82, a P/E/G ratio of 0.02 and a beta of 0.70. The stock has a 50 day moving average of C$46.48 and a two-hundred day moving average of C$44.03.

About Torex Gold Resources

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.