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

Torex Gold Resources Inc. (TSE:TXG) reached a new 52-week high on Monday . The stock traded as high as C$71.97 and last traded at C$71.18, with a volume of 650904 shares changing hands. The stock had previously closed at C$67.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TXG shares. CIBC increased their target price on shares of Torex Gold Resources from C$66.00 to C$90.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group lifted their price objective on shares of Torex Gold Resources from C$64.00 to C$77.00 in a report on Thursday, October 2nd. Royal Bank Of Canada raised their target price on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research report on Wednesday, December 10th. Finally, National Bankshares dropped their price target 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 research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$69.20.

Torex Gold Resources Stock Performance

The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. The company has a market capitalization of C$6.88 billion, a PE ratio of 21.03, a PEG ratio of 0.02 and a beta of 1.28. The business has a 50 day simple moving average of C$64.42 and a 200 day simple moving average of C$55.01.

Torex Gold Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th were paid a dividend of $0.15 per share. 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%.

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.