Torex Gold Resources (TSE:TXG) Upgraded to “Outperform” at CIBC

CIBC upgraded shares of Torex Gold Resources (TSE:TXG) from a neutral rating to an outperform rating in a research note released on Monday morning,BayStreet.CA reports. The brokerage currently has C$58.00 target price on the stock, up from their previous target price of C$42.00.

Several other equities research analysts have also commented on the company. Royal Bank of Canada upped their price objective on Torex Gold Resources from C$44.00 to C$45.00 in a research note on Friday, April 4th. Cormark upped their price target on Torex Gold Resources from C$46.00 to C$55.00 in a research report on Monday. Raymond James lifted their price objective on Torex Gold Resources from C$34.00 to C$47.00 in a research report on Friday, April 4th. Finally, BMO Capital Markets increased their target price on shares of Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$43.08.

Torex Gold Resources Stock Performance

TXG opened at C$43.93 on Monday. Torex Gold Resources has a 12-month low of C$18.79 and a 12-month high of C$46.39. The company has a market cap of C$2.66 billion, a price-to-earnings ratio of 23.62, 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 company’s 50 day moving average is C$35.41 and its 200 day moving average is C$31.11.

Insider Activity at Torex Gold Resources

In related news, Director Caroline Donally bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 20th. The stock was bought at an average cost 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 Torex Gold Resources 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. 0.35% of the stock is owned by corporate insiders.

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.