ATEX Resources (CVE:ATX) Stock Price Up 8.2% – Still a Buy?

Shares of ATEX Resources Inc. (CVE:ATX) were up 8.2% during mid-day trading on Monday . The stock traded as high as C$3.05 and last traded at C$3.04. Approximately 690,826 shares were traded during trading, a decline of 17% from the average daily volume of 828,296 shares. The stock had previously closed at C$2.81.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ATX. Ventum Financial set a C$5.50 target price on ATEX Resources and gave the company a “buy” rating in a research note on Monday, March 2nd. TD Securities upgraded shares of ATEX Resources to a “strong-buy” rating in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$4.67.

ATEX Resources Price Performance

The stock has a market capitalization of C$1.16 billion, a P/E ratio of -12.60 and a beta of 2.21. The company has a fifty day moving average of C$3.87 and a two-hundred day moving average of C$3.13.

ATEX Resources Company Profile

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.