CIBC Issues Positive Forecast for Torex Gold Resources (TSE:TXG) Stock Price

Torex Gold Resources (TSE:TXG) had its price target boosted by CIBC from C$90.00 to C$100.00 in a research report report published on Wednesday morning,BayStreet.CA reports.

A number of other research firms have also recently commented on TXG. Scotiabank upped their price objective on shares of Torex Gold Resources from C$72.00 to C$95.00 in a research report on Monday, January 26th. Royal Bank Of Canada boosted their target price on Torex Gold Resources from C$77.00 to C$94.00 in a research note on Wednesday, December 10th. TD Securities increased their price target on Torex Gold Resources from C$78.00 to C$96.00 in a report on Thursday, January 22nd. Finally, National Bankshares cut their price objective on Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating on the stock in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, Torex Gold Resources currently has an average rating of “Buy” and a consensus price target of C$78.10.

Torex Gold Resources Stock Performance

Shares of TSE:TXG opened at C$67.68 on Wednesday. The firm’s 50 day simple moving average is C$68.44 and its 200 day simple moving average is C$58.55. Torex Gold Resources has a fifty-two week low of C$30.66 and a fifty-two week high of C$84.61. The company has a market capitalization of C$6.51 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 0.02 and a beta of 1.13. The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12.

Torex Gold Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, December 4th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%.

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.