Torex Gold Resources (TSE:TXG) Hits New 12-Month High – Time to Buy?

Shares of Torex Gold Resources Inc. (TSE:TXG) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$39.77 and last traded at C$39.71, with a volume of 131084 shares trading hands. The stock had previously closed at C$38.40.

Analyst Ratings Changes

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

Torex Gold Resources Stock Down 1.8 %

The stock has a market cap of C$2.37 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 0.02 and a beta of 1.34. The business’s 50 day moving average is C$33.59 and its 200-day moving average is C$30.12. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

Insider Activity

In other news, Director Caroline Donally bought 1,000 shares of the firm’s stock in a transaction dated Monday, January 20th. The shares were acquired 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 Torex Gold Resources stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total value of C$162,898.31. Company insiders own 0.35% of the company’s stock.

Torex Gold Resources Company Profile

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.