ATEX Resources (CVE:ATX) Sets New 52-Week High – Still a Buy?

ATEX Resources Inc. (CVE:ATX) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$3.90 and last traded at C$3.81, with a volume of 110271 shares changing hands. The stock had previously closed at C$3.71.

Analyst Upgrades and Downgrades

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

ATEX Resources Price Performance

The firm has a market capitalization of C$1.30 billion, a price-to-earnings ratio of -15.12 and a beta of 2.28. The business has a 50 day moving average of C$2.94 and a 200 day moving average of C$2.57.

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.