Torex Gold Resources Inc. (TSE:TXG) Receives Average Rating of “Buy” from Analysts

Torex Gold Resources Inc. (TSE:TXG) has received an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$72.60.

TXG has been the topic of several analyst reports. CIBC increased their price target on shares of Torex Gold Resources from C$66.00 to C$90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group raised their target price on Torex Gold Resources from C$64.00 to C$77.00 in a report on Thursday, October 2nd. National Bankshares decreased their price target on 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. Royal Bank Of Canada raised their price objective on Torex Gold Resources from C$77.00 to C$94.00 in a research note on Wednesday, December 10th. Finally, TD Securities upped their target price on Torex Gold Resources from C$78.00 to C$96.00 in a research report on Thursday.

Torex Gold Resources Trading Up 1.1%

Shares of TSE TXG opened at C$80.01 on Friday. The business has a 50 day simple moving average of C$66.79 and a 200 day simple moving average of C$56.88. Torex Gold Resources has a 52 week low of C$28.97 and a 52 week high of C$81.36. The stock has a market cap of C$7.70 billion, a price-to-earnings ratio of 23.53, a PEG 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, December 4th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, November 20th.

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. 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.