ATEX Resources (CVE:ATX) Reaches New 52-Week High – Should You Buy?

ATEX Resources Inc. (CVE:ATX)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$3.71 and last traded at C$3.61, with a volume of 202575 shares changing hands. The stock had previously closed at C$3.49.

Analyst Ratings Changes

Several research firms have weighed in on ATX. TD Securities raised shares of ATEX Resources to a “strong-buy” rating in a research report on Tuesday, December 16th. BMO Capital Markets set a C$4.00 target price on ATEX Resources and gave the stock an “outperform” rating in a research note on Monday, November 10th. Stifel Nicolaus boosted their price target on ATEX Resources from C$4.00 to C$4.50 in a research note on Tuesday, October 21st. Desjardins upgraded ATEX Resources to a “moderate buy” rating in a research note on Thursday, November 6th. Finally, Ventum Cap Mkts raised ATEX Resources to a “strong-buy” rating in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, ATEX Resources currently has an average rating of “Strong Buy” and an average price target of C$4.25.

ATEX Resources Stock Up 2.0%

The stock has a market cap of C$1.23 billion, a PE ratio of -14.24 and a beta of 2.28. The business has a 50 day moving average price of C$2.71 and a 200 day moving average price of C$2.46.

About ATEX Resources

ATEX Resources Inc engages in the exploration and evaluation of mineral properties in South America. Its flagship property is the Valeriano Copper Gold project covering approximately 3,705 hectares located in the north-central Chile. The company was formerly known as Colombia Crest Gold Corp. and changed its name to ATEX Resources Inc in February 2019. ATEX Resources Inc was incorporated in 1981 and is headquartered in Toronto, Canada.