TD Securities Lowers Torex Gold Resources Price Target to C$1.05 (TXG)
Equities researchers at TD Securities reduced their price objective on shares of Torex Gold Resources (TSE:TXG) from C$1.10 to C$1.05 in a research report issued on Tuesday, StockRatingsNetwork.com reports. The firm currently has a “reduce” rating on the stock. TD Securities’ target price points to a potential downside of 30.00% from the stock’s previous close.
Torex Gold Resources (TSE:TXG) traded down 2.67% during mid-day trading on Tuesday, hitting $1.46. The stock had a trading volume of 1,642,646 shares. Torex Gold Resources has a one year low of $1.12 and a one year high of $2.29. The stock’s 50-day moving average is $1.53 and its 200-day moving average is $1.50. The company’s market cap is $885.5 million.
TXG has been the subject of a number of other recent research reports. Analysts at Scotiabank raised their price target on shares of Torex Gold Resources (TSE:TXG) from C$2.75 to C$3.25 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Torex Gold Resources (TSE:TXG) from C$2.50 to C$2.25 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Dundee Securities reiterated a “buy” rating on shares of Torex Gold Resources (TSE:TXG) in a research note to investors on Tuesday, August 13th.
One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Torex Gold Resources presently has an average rating of “Buy” and an average target price of C$2.39.
Torex Gold Resources Inc, formerly Gleichen Resources Ltd., is a development-stage company. The Company is engaged in the acquisition, exploration and development of mineral property interests.
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