Torex Gold Resources (TSE:TXG) Given New C$42.00 Price Target at CIBC

Torex Gold Resources (TSE:TXG) had its price target lifted by equities research analysts at CIBC from C$36.00 to C$42.00 in a report released on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 25.75% from the company’s current price.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets raised their price objective on shares of Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday. Scotiabank upped their target price on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. Raymond James upped their target price on shares of Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada upped their target price on shares of Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. Four research 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, the company currently has a consensus rating of “Buy” and an average price target of C$36.53.

Torex Gold Resources Price Performance

Shares of TXG traded down C$1.72 during mid-day trading on Friday, hitting C$33.40. 249,915 shares of the company traded hands, compared to its average volume of 259,966. Torex Gold Resources has a one year low of C$13.20 and a one year high of C$35.89. The stock has a market capitalization of C$2.03 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 0.02 and a beta of 1.34. The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. The business has a 50-day moving average of C$30.00 and a 200 day moving average of C$28.01.

Insider Activity

In related news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of C$28.97, for a total transaction of C$162,898.31. Also, Director Caroline Donally purchased 1,000 shares of the stock in a transaction that occurred on Monday, January 20th. The shares were purchased at an average price of C$27.91 per share, with a total value of C$27,908.00. Corporate insiders own 0.35% of the company’s stock.

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.