ATEX Resources (CVE:ATX) Stock Price Up 4.6% – Should You Buy?

Shares of ATEX Resources Inc. (CVE:ATX) rose 4.6% during mid-day trading on Monday . The stock traded as high as C$2.59 and last traded at C$2.50. Approximately 289,913 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 449,456 shares. The stock had previously closed at C$2.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ATX shares. Stifel Nicolaus boosted their price objective on ATEX Resources from C$4.00 to C$4.50 in a research note on Tuesday, October 21st. Ventum Cap Mkts raised ATEX Resources to a “strong-buy” rating in a research note on Tuesday, October 21st. Desjardins upgraded ATEX Resources to a “moderate buy” rating in a research report on Thursday, November 6th. Finally, BMO Capital Markets set a C$4.00 price objective on ATEX Resources and gave the company an “outperform” rating in a report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, ATEX Resources presently has a consensus rating of “Strong Buy” and a consensus price target of C$4.25.

ATEX Resources Price Performance

The stock has a market cap of C$862.91 million, a price-to-earnings ratio of -10.00 and a beta of 1.90. The firm has a fifty day moving average of C$2.56 and a 200 day moving average of C$2.33.

ATEX Resources Company Profile

ATEX Resources Inc engages in the exploration and evaluation of mineral properties in South America. Its flagship property is the Valeriano Copper Gold project covering approximately 3,705 hectares located in the north-central Chile. The company was formerly known as Colombia Crest Gold Corp. and changed its name to ATEX Resources Inc in February 2019.