Torex Gold Resources (TSE:TXG) Hits New 52-Week High After Analyst Upgrade

Torex Gold Resources Inc. (TSE:TXG)’s share price hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$72.00 to C$95.00. The company traded as high as C$84.61 and last traded at C$83.76, with a volume of 77687 shares trading hands. The stock had previously closed at C$80.01.

Several other equities research analysts have also weighed in on the company. Canaccord Genuity Group lifted their price target on Torex Gold Resources from C$64.00 to C$77.00 in a research report on Thursday, October 2nd. TD Securities boosted their target price on shares of Torex Gold Resources from C$78.00 to C$96.00 in a report on Thursday, January 22nd. 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. Royal Bank Of Canada lifted their price target on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research report on Wednesday, December 10th. Finally, National Bankshares dropped their price objective on shares of Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, Torex Gold Resources currently has an average rating of “Buy” and an average price target of C$77.10.

Torex Gold Resources Price Performance

The firm’s fifty day simple moving average is C$67.47 and its 200-day simple moving average is C$57.49. The firm has a market capitalization of C$7.71 billion, a PE ratio of 23.57, a PEG ratio of 0.02 and a beta of 1.28. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09.

Torex Gold Resources Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.7%.

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.