Torex Gold Resources (TSE:TXG) Hits New 12-Month High – Time to Buy?

Torex Gold Resources Inc. (TSE:TXGGet Free Report)’s stock price hit a new 52-week high on Monday . The company traded as high as C$35.82 and last traded at C$35.81, with a volume of 144914 shares trading hands. The stock had previously closed at C$35.12.

Wall Street Analysts Forecast Growth

TXG has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. BMO Capital Markets increased their price objective on Torex Gold Resources from C$36.00 to C$38.00 in a research report on Thursday, February 20th. Scotiabank increased their price target on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. CIBC upped their target price on Torex Gold Resources from C$36.00 to C$42.00 in a research note on Friday, February 21st. Finally, Raymond James lifted their target price on Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Torex Gold Resources has an average rating of “Buy” and a consensus price target of C$36.53.

Get Our Latest Stock Report on TXG

Torex Gold Resources Trading Up 2.7 %

The stock has a market cap of C$2.19 billion, a P/E ratio of 19.39, a PEG ratio of 0.02 and a beta of 1.34. 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 firm’s fifty day moving average price is C$31.38 and its two-hundred day moving average price is C$29.15.

Insider Transactions at Torex Gold Resources

In other news, Director Caroline Donally purchased 1,000 shares of the stock in a transaction that occurred on Monday, January 20th. The stock was bought at an average cost of C$27.91 per share, for a total transaction of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the 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. Insiders own 0.35% of the company’s stock.

About Torex Gold Resources

(Get Free Report)

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.

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