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

Torex Gold Resources Inc. (TSE:TXG)’s share price hit a new 52-week high on Monday . The company traded as high as C$75.50 and last traded at C$74.91, with a volume of 41952 shares changing hands. The stock had previously closed at C$72.43.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TXG. CIBC raised their price objective on shares of Torex Gold Resources from C$66.00 to C$90.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. National Bankshares decreased their target price on Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 9th. Canaccord Genuity Group boosted their price target on shares of Torex Gold Resources from C$64.00 to C$77.00 in a research note on Thursday, October 2nd. Finally, Royal Bank Of Canada raised their price objective on Torex Gold Resources from C$77.00 to C$94.00 in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat.com, Torex Gold Resources has a consensus rating of “Buy” and an average target price of C$69.20.

Torex Gold Resources Price Performance

The company has a market cap of C$7.18 billion, a P/E ratio of 21.97, a PEG ratio of 0.02 and a beta of 1.28. The firm’s 50-day moving average is C$65.45 and its two-hundred day moving average is C$55.78. The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12.

Torex Gold Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, December 4th were issued a $0.15 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%.

Torex Gold Resources Company Profile

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. Within this property, the company has two assets: the El Limon-Guajes Mine, an open pit gold deposit located north of the Balsas river, and the Media Luna Project, which is at an advanced stage of exploration.