Torex Gold Resources (TSE:TXG) Price Target Raised to C$65.00

Torex Gold Resources (TSE:TXG) had its price target increased by analysts at Desjardins from C$63.00 to C$65.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 65.31% from the company’s previous close.

A number of other brokerages also recently issued reports on TXG. Cibc World Mkts upgraded shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. CIBC upgraded shares of Torex Gold Resources from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from C$42.00 to C$58.00 in a research note on Monday, April 14th. Raymond James Financial lifted their price target on shares of Torex Gold Resources from C$47.00 to C$55.00 in a research note on Tuesday. Scotiabank raised their price objective on shares of Torex Gold Resources from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Finally, TD Securities raised their price objective on shares of Torex Gold Resources from C$39.00 to C$57.00 in a report on Tuesday, April 15th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Torex Gold Resources has an average rating of “Buy” and an average target price of C$59.00.

Torex Gold Resources Stock Down 3.3%

Shares of Torex Gold Resources stock opened at C$39.32 on Tuesday. Torex Gold Resources has a 52-week low of C$19.01 and a 52-week high of C$49.25. The company has a 50 day moving average of C$44.24 and a 200 day moving average of C$39.39. 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 company has a market capitalization of C$2.38 billion, a P/E ratio of 21.14, a P/E/G ratio of 0.02 and a beta of 1.34.

About Torex Gold Resources

Torex Gold Resources Inc is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala.