Torex Gold Resources (TSE:TXG) Reaches New 1-Year High – Still a Buy?

Torex Gold Resources Inc. (TSE:TXG)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$70.00 and last traded at C$68.44, with a volume of 122155 shares. The stock had previously closed at C$66.77.

Analyst Upgrades and Downgrades

TXG has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Torex Gold Resources from C$64.00 to C$77.00 in a research report on Thursday, October 2nd. CIBC lifted their price objective on Torex Gold Resources from C$66.00 to C$90.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. National Bankshares lowered their price objective on shares of Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating for the company in a research note on Tuesday, December 9th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$69.20.

Torex Gold Resources Stock Down 1.5%

The business has a 50 day moving average of C$62.34 and a two-hundred day moving average of C$52.82. The stock has a market capitalization of C$6.61 billion, a PE ratio of 20.21, a PEG ratio of 0.02 and a beta of 0.83. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

Torex Gold Resources Dividend Announcement

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