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

Torex Gold Resources Inc. (TSE:TXG)’s stock price reached a new 52-week high on Wednesday . The company traded as high as C$30.08 and last traded at C$29.79, with a volume of 17936 shares traded. The stock had previously closed at C$29.67.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TXG shares. Canaccord Genuity Group boosted their target price on Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. TD Securities decreased their price target on Torex Gold Resources from C$34.00 to C$33.00 in a research note on Friday, August 9th. Royal Bank of Canada lifted their price target on Torex Gold Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$31.25 to C$37.75 in a research note on Thursday, October 10th. Finally, National Bank Financial raised Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$31.31.

Torex Gold Resources Stock Up 0.5 %

The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. The company has a fifty day simple moving average of C$25.37 and a 200 day simple moving average of C$22.38. The firm has a market capitalization of C$2.56 billion, a P/E ratio of 18.31, a P/E/G ratio of 0.02 and a beta of 1.34.

Torex Gold Resources (TSE:TXG) last released its earnings results on Wednesday, August 7th. The company reported C$0.82 EPS for the quarter, topping the consensus estimate of C$0.70 by C$0.12. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The business had revenue of C$369.83 million for the quarter. On average, equities analysts expect that Torex Gold Resources Inc. will post 3.4501992 EPS for the current fiscal year.

Torex Gold Resources Company Profile

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.