ATEX Resources (CVE:ATX) Sets New 1-Year High – Here’s What Happened

Shares of ATEX Resources Inc. (CVE:ATX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$4.52 and last traded at C$4.51, with a volume of 383465 shares traded. The stock had previously closed at C$4.34.

Wall Street Analyst Weigh In

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

ATEX Resources Price Performance

The company’s fifty day simple moving average is C$3.06 and its 200-day simple moving average is C$2.61. The firm has a market capitalization of C$1.48 billion, a PE ratio of -17.16 and a beta of 2.28.

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.