Torex Gold Resources (TSE:TXG) Hits New 1-Year High – Should You Buy?

Torex Gold Resources Inc. (TSE:TXG) shares hit a new 52-week high on Monday . The company traded as high as C$35.82 and last traded at C$35.81, with a volume of 144914 shares changing hands. The stock had previously closed at C$35.12.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TXG. BMO Capital Markets lifted their price objective on shares of Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday, February 20th. Royal Bank of Canada raised their target price on shares of Torex Gold Resources from C$34.00 to C$37.00 in a research report on Friday, December 6th. Raymond James lifted 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. Scotiabank lifted their price objective on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. Finally, CIBC lifted their price objective on shares of Torex Gold Resources from C$36.00 to C$42.00 in a research report on Friday, February 21st. Four 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, the company currently has an average rating of “Buy” and a consensus price target of C$36.53.

Torex Gold Resources Stock Performance

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 company has a market cap of C$2.26 billion, a PE ratio of 20.08, a P/E/G ratio of 0.02 and a beta of 1.34. The firm’s 50-day simple moving average is C$31.72 and its two-hundred day simple moving average is C$29.25.

Insider Activity

In related news, 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. Also, Director Caroline Donally bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 20th. The stock was purchased at an average cost of C$27.91 per share, for a total transaction of C$27,908.00. 0.35% of the stock is currently owned by company 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.