ATEX Resources (CVE:ATX) Reaches New 52-Week High – What’s Next?

ATEX Resources Inc. (CVE:ATX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$3.75 and last traded at C$3.70, with a volume of 759257 shares. The stock had previously closed at C$3.58.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of ATEX Resources from C$4.00 to C$4.50 in a report on Tuesday, October 21st. TD Securities raised shares of ATEX Resources to a “strong-buy” rating in a report on Tuesday, December 16th. Ventum Cap Mkts upgraded shares of ATEX Resources to a “strong-buy” rating in a research report on Tuesday, October 21st. Desjardins raised shares of ATEX Resources to a “moderate buy” rating in a research note on Thursday, November 6th. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus target price of C$4.25.

ATEX Resources Price Performance

The stock’s 50 day moving average is C$2.84 and its 200-day moving average is C$2.53. The company has a market capitalization of C$1.29 billion, a P/E ratio of -14.92 and a beta of 2.28.

ATEX Resources Company Profile

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.