Analysts Set Torex Gold Resources Inc. (TSE:TXG) Target Price at C$69.20

Torex Gold Resources Inc. (TSE:TXG) has received a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$69.20.

A number of research analysts recently issued reports on the company. National Bankshares cut their price target on Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating for the company in a report on Tuesday, December 9th. Canaccord Genuity Group raised their price objective on shares of Torex Gold Resources from C$64.00 to C$77.00 in a research report on Thursday, October 2nd. CIBC boosted their target price on shares of Torex Gold Resources from C$66.00 to C$90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada increased their price target on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research note on Wednesday, December 10th.

Torex Gold Resources Trading Up 3.8%

Shares of TXG opened at C$68.91 on Wednesday. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. The company has a market cap of C$6.63 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 0.02 and a beta of 1.28. The stock has a fifty day moving average price of C$63.46 and a two-hundred day moving average price of C$54.29. Torex Gold Resources has a 52-week low of C$26.88 and a 52-week high of C$70.00.

Torex Gold Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.60 annualized dividend and a yield of 0.9%.

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.