Torex Gold Resources (TSE:TXG) Reaches New 52-Week High on Analyst Upgrade

Shares of Torex Gold Resources Inc. (TSE:TXG) hit a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$72.00 to C$95.00. The company traded as high as C$84.61 and last traded at C$83.76, with a volume of 77687 shares. The stock had previously closed at C$80.01.

Other research analysts also recently issued research reports about the stock. CIBC boosted 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. Royal Bank Of Canada lifted their target price on Torex Gold Resources from C$77.00 to C$94.00 in a research report on Wednesday, December 10th. Canaccord Genuity Group upped their price target on Torex Gold Resources from C$64.00 to C$77.00 in a report on Thursday, October 2nd. TD Securities raised their price objective on Torex Gold Resources from C$78.00 to C$96.00 in a research report on Thursday. Finally, National Bankshares lowered their price objective on Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$77.10.

Torex Gold Resources Stock Performance

The company has a market capitalization of C$7.71 billion, a P/E ratio of 23.58, a PEG ratio of 0.02 and a beta of 1.28. The stock has a fifty day simple moving average of C$66.79 and a 200-day simple moving average of C$56.98. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09.

Torex Gold Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th were given a $0.15 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%.

About Torex Gold Resources

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.