Torex Gold Resources (TSE:TXG) Reaches New 52-Week High Following Analyst Upgrade

Torex Gold Resources Inc. (TSE:TXG)’s stock price reached a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$72.00 to C$95.00. The company traded as high as C$84.61 and last traded at C$83.76, with a volume of 77687 shares changing hands. The stock had previously closed at C$80.01.

Other analysts have also recently issued research reports about the stock. National Bankshares reduced their target price on shares of Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating for the company in a research note on Tuesday, December 9th. TD Securities increased their price target on shares of Torex Gold Resources from C$78.00 to C$96.00 in a report on Thursday, January 22nd. Royal Bank Of Canada raised their price objective on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research report on Wednesday, December 10th. Canaccord Genuity Group lifted their price objective on Torex Gold Resources from C$64.00 to C$77.00 in a report on Thursday, October 2nd. Finally, CIBC boosted their target price on Torex Gold Resources from C$66.00 to C$90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, Torex Gold Resources presently has a consensus rating of “Buy” and an average target price of C$77.10.

Torex Gold Resources Stock Performance

The stock’s 50-day moving average price is C$67.14 and its 200-day moving average price is C$57.23. The company has a market capitalization of C$7.71 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 0.02 and a beta of 1.28. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

Torex Gold Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, December 4th were given a $0.15 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%.

Torex Gold Resources Company Profile

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. Within this property, the company has two assets: the El Limon-Guajes Mine, an open pit gold deposit located north of the Balsas river, and the Media Luna Project, which is at an advanced stage of exploration.