Torex Gold Resources Inc. (TSE:TXG) Given Consensus Recommendation of “Buy” by Brokerages

Torex Gold Resources Inc. (TSE:TXG) has received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$55.00.

Several equities analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Torex Gold Resources from C$44.00 to C$56.00 in a research note on Friday, May 2nd. Desjardins set a C$60.00 price target on Torex Gold Resources and gave the company a “buy” rating in a report on Thursday, June 5th. Scotiabank increased their price objective on Torex Gold Resources from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. TD Securities lifted their price objective on Torex Gold Resources from C$39.00 to C$57.00 in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada boosted their target price on Torex Gold Resources from C$60.00 to C$65.00 in a research note on Thursday.

Torex Gold Resources Price Performance

Shares of TSE:TXG opened at C$48.33 on Friday. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. Torex Gold Resources has a twelve month low of C$19.01 and a twelve month high of C$49.25. The stock’s 50 day moving average is C$44.15 and its 200-day moving average is C$35.94. The firm has a market capitalization of C$2.93 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 0.02 and a beta of 1.34.

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.