Torex Gold Resources (TSE:TXG) Hits New 1-Year High – Here’s What Happened

Torex Gold Resources Inc. (TSE:TXG)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$34.34 and last traded at C$33.30, with a volume of 241527 shares trading hands. The stock had previously closed at C$33.15.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. CIBC boosted their price objective on Torex Gold Resources from C$33.00 to C$34.50 in a research note on Monday, December 2nd. Royal Bank of Canada lifted their target price on shares of Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Scotiabank lifted their price target on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. TD Securities raised their target price on shares of Torex Gold Resources from C$34.00 to C$38.00 in a research report on Friday, October 18th. Finally, Raymond James boosted their price target on Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Torex Gold Resources has an average rating of “Buy” and a consensus price target of C$34.81.

Torex Gold Resources Stock Performance

The stock has a 50 day simple moving average of C$29.24 and a 200 day simple moving average of C$27.35. The company has a market capitalization of C$2.86 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 0.02 and a beta of 1.34. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32.

Insider Activity at Torex Gold Resources

In other news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of C$28.97, for a total value of C$162,898.31. Also, Director Caroline Donally bought 1,000 shares of the firm’s stock in a transaction on Monday, January 20th. The stock was acquired at an average cost of C$27.91 per share, with a total value of C$27,908.00. Insiders have acquired a total of 2,000 shares of company stock worth $55,927 in the last three months. 0.35% of the stock is owned by company insiders.

About Torex Gold Resources

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.