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

Torex Gold Resources Inc. (TSE:TXG) shares reached a new 52-week high during trading on Monday . The stock traded as high as C$85.00 and last traded at C$82.55, with a volume of 390507 shares changing hands. The stock had previously closed at C$83.11.

Analysts Set New Price Targets

Several research firms recently weighed in on TXG. Royal Bank Of Canada boosted their price objective on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research report on Wednesday, December 10th. National Bank Financial dropped their target price on Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating for the company in a research report on Tuesday, December 9th. TD Securities upped their price target on Torex Gold Resources from C$78.00 to C$96.00 in a research note on Thursday, January 22nd. Canadian Imperial Bank of Commerce lifted their price objective on Torex Gold Resources from C$90.00 to C$100.00 in a research report on Wednesday, February 4th. Finally, Scotiabank boosted their price objective on Torex Gold Resources from C$72.00 to C$95.00 in a report on Monday, January 26th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$78.10.

Torex Gold Resources Price Performance

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 firm has a market capitalization of C$7.82 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 0.02 and a beta of 1.13. The company has a 50-day moving average price of C$69.45 and a 200-day moving average price of C$61.64.

Torex Gold Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 19th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, March 5th. 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 a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.