Torex Gold Resources (TSE:TXG) Reaches New 12-Month High – Here’s What Happened

Torex Gold Resources Inc. (TSE:TXG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$38.30 and last traded at C$38.26, with a volume of 171136 shares changing hands. The stock had previously closed at C$35.87.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TXG. BMO Capital Markets upped their price target on shares of Torex Gold Resources from C$36.00 to C$38.00 in a research note on Thursday, February 20th. CIBC upped their price target on Torex Gold Resources from C$36.00 to C$42.00 in a research report on Friday, February 21st. Raymond James raised their price objective on shares of Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada upped their target price on shares of Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$36.53.

Torex Gold Resources Stock Up 7.4 %

The company has a market cap of C$2.34 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.02 and a beta of 1.34. The stock has a 50-day moving average of C$32.36 and a two-hundred day moving average of C$29.57. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

Insiders Place Their Bets

In other news, Director Caroline Donally bought 1,000 shares of the business’s stock in a transaction dated Monday, January 20th. The shares were purchased at an average price of C$27.91 per share, for a total transaction of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of C$28.97, for a total transaction of C$162,898.31. Insiders own 0.35% of the company’s stock.

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.