Torex Gold Resources (OTCMKTS:TORXF) Price Target Raised to $28.50

Torex Gold Resources (OTCMKTS:TORXF) had its target price hoisted by equities researchers at CIBC from $26.00 to $28.50 in a report released on Wednesday, The Fly reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price objective would suggest a potential upside of 71.53% from the company’s current price.

Several other research firms have also recently commented on TORXF. TD Securities boosted their target price on Torex Gold Resources from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Desjardins initiated coverage on Torex Gold Resources in a research note on Tuesday, September 8th. They issued a “buy” rating for the company. Finally, Scotiabank lowered their price target on Torex Gold Resources from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, September 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Torex Gold Resources currently has an average rating of “Buy” and an average price target of $29.13.

Torex Gold Resources stock traded up $0.01 during mid-day trading on Wednesday, reaching $16.62. 53,526 shares of the company’s stock were exchanged, compared to its average volume of 63,641. The business’s fifty day simple moving average is $15.99 and its 200 day simple moving average is $13.81. Torex Gold Resources has a one year low of $6.19 and a one year high of $19.45.

About Torex Gold Resources

Torex Gold Resources Inc engages in the exploration, development, and operation of mineral properties in Mexico. The company explores for gold, silver, copper, and carbon deposits. It holds a 100% interest in the Morelos Gold property comprising the El Limón Guajes mine and the Media Luna deposit that consists of 7 mineral concessions covering a total area of approximately 29,000 hectares located in the Guerrero Gold Belt in southern Mexico.

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