Torex Gold Resources (TSE:TXG) Raised to Outperform at CIBC

Torex Gold Resources (TSE:TXG) was upgraded by stock analysts at CIBC from a “neutral” rating to an “outperform” rating in a report released on Monday,BayStreet.CA reports. The firm currently has a C$58.00 price objective on the stock, up from their previous price objective of C$42.00. CIBC’s price target points to a potential upside of 32.09% from the company’s previous close.

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

Torex Gold Resources Stock Down 0.0 %

Shares of TSE TXG opened at C$43.91 on Monday. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. The firm has a market cap of C$2.66 billion, a PE ratio of 23.61, a P/E/G ratio of 0.02 and a beta of 1.34. The company’s fifty day simple moving average is C$35.62 and its 200 day simple moving average is C$31.19. Torex Gold Resources has a 12-month low of C$18.79 and a 12-month high of C$46.39.

Insider Activity at Torex Gold Resources

In other Torex Gold Resources news, Director Caroline Donally bought 1,000 shares of Torex Gold Resources stock in a transaction dated Monday, January 20th. The stock was bought at an average cost of C$27.91 per share, with a total value of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of Torex Gold Resources stock in a transaction 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. 0.35% of the stock is currently owned by 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.