TD Securities Forecasts Strong Price Appreciation for Torex Gold Resources (TSE:TXG) Stock

Torex Gold Resources (TSE:TXG) had its price target raised by investment analysts at TD Securities from C$39.00 to C$57.00 in a note issued to investors on Tuesday,BayStreet.CA reports. TD Securities’ price objective would indicate a potential upside of 30.32% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. CIBC upgraded Torex Gold Resources from a “neutral” rating to an “outperform” rating and increased their target price for the stock from C$42.00 to C$58.00 in a report on Monday. Cormark lifted their price objective on shares of Torex Gold Resources from C$46.00 to C$55.00 in a report on Monday. Royal Bank of Canada increased their price objective on shares of Torex Gold Resources from C$44.00 to C$45.00 in a research note on Friday, April 4th. Raymond James raised their price objective on Torex Gold Resources from C$34.00 to C$47.00 in a research report on Friday, April 4th. Finally, BMO Capital Markets lifted their target price on shares of Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday, February 20th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Torex Gold Resources has a consensus rating of “Buy” and an average target price of C$45.19.

Torex Gold Resources Trading Down 0.4 %

Shares of TXG traded down C$0.19 on Tuesday, reaching C$43.74. 167,857 shares of the company’s stock were exchanged, compared to its average volume of 317,130. The business has a 50 day moving average price of C$35.41 and a two-hundred day moving average price of C$31.11. The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. The stock has a market capitalization of C$2.65 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 12 month low of C$18.79 and a 12 month high of C$46.39.

Insider Activity

In other Torex Gold Resources news, Director Caroline Donally purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 20th. The shares were acquired at an average cost 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 Torex Gold Resources stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total value of C$162,898.31. Corporate 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.