ATEX Resources (CVE:ATX) Hits New 12-Month High – Time to Buy?

Shares of ATEX Resources Inc. (CVE:ATX) reached a new 52-week high during trading on Wednesday . The company traded as high as C$3.75 and last traded at C$3.70, with a volume of 759257 shares. The stock had previously closed at C$3.58.

Analyst Ratings Changes

A number of analysts have recently issued reports on ATX shares. Stifel Nicolaus lifted their price objective on shares of ATEX Resources from C$4.00 to C$4.50 in a report on Tuesday, October 21st. Ventum Cap Mkts upgraded ATEX Resources to a “strong-buy” rating in a research report on Tuesday, October 21st. BMO Capital Markets set a C$4.00 price target on ATEX Resources and gave the stock an “outperform” rating in a research note on Monday, November 10th. TD Securities upgraded ATEX Resources to a “strong-buy” rating in a report on Tuesday, December 16th. Finally, Desjardins upgraded ATEX Resources to a “moderate buy” rating in a research report on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus target price of C$4.25.

ATEX Resources Stock Up 4.2%

The company has a fifty day moving average price of C$2.84 and a 200 day moving average price of C$2.53. The stock has a market cap of C$1.29 billion, a PE ratio of -14.92 and a beta of 2.28.

About ATEX Resources

ATEX Resources Inc engages in the exploration and evaluation of mineral properties in South America. Its flagship property is the Valeriano Copper Gold project covering approximately 3,705 hectares located in the north-central Chile. The company was formerly known as Colombia Crest Gold Corp. and changed its name to ATEX Resources Inc in February 2019. ATEX Resources Inc was incorporated in 1981 and is headquartered in Toronto, Canada.