Torex Gold Resources (TSE:TXG) Given New C$42.00 Price Target at CIBC

Torex Gold Resources (TSE:TXG) had its price objective boosted by analysts at CIBC from C$36.00 to C$42.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 25.75% from the company’s current price.

TXG has been the topic of a number of other research reports. Royal Bank of Canada upped their target price on Torex Gold Resources from C$34.00 to C$37.00 in a research report on Friday, December 6th. Scotiabank raised their price objective on Torex Gold Resources from C$33.00 to C$37.00 in a report on Thursday, November 21st. BMO Capital Markets raised their price objective on Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday. Finally, Raymond James raised their price objective on Torex Gold Resources from C$33.00 to C$34.00 in a report on Tuesday, January 7th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$36.53.

Torex Gold Resources Trading Down 4.9 %

TSE TXG traded down C$1.72 on Friday, hitting C$33.40. 249,915 shares of the stock were exchanged, compared to its average volume of 259,966. Torex Gold Resources has a 52-week low of C$13.20 and a 52-week high of C$35.89. The firm has a market capitalization of C$2.03 billion, a P/E ratio of 17.96, a P/E/G ratio of 0.02 and a beta of 1.34. The stock has a fifty day moving average price of C$30.00 and a two-hundred day moving average price of C$28.01. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

Insider Activity

In related news, Director Caroline Donally acquired 1,000 shares of Torex Gold Resources stock in a transaction that occurred on Monday, January 20th. The shares were purchased at an average price of C$27.91 per share, for a total transaction of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total value of C$162,898.31. Company insiders own 0.35% of the company’s stock.

Torex Gold Resources Company Profile

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.