Torex Gold Resources Inc. (TSE:TXG) Receives C$72.60 Average Price Target from Analysts

Torex Gold Resources Inc. (TSE:TXG) has earned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$77.10.

Several analysts have issued reports on the company. National Bankshares dropped their target price on Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating for the company in a report on Tuesday, December 9th. Canaccord Genuity Group raised their price target on shares of Torex Gold Resources from C$64.00 to C$77.00 in a report on Thursday, October 2nd. Scotiabank raised their price objective on Torex Gold Resources from C$72.00 to C$95.00 in a research report on Monday. Royal Bank Of Canada upped their price objective on shares of Torex Gold Resources from C$77.00 to C$94.00 in a report on Wednesday, December 10th. Finally, TD Securities boosted their price target on shares of Torex Gold Resources from C$78.00 to C$96.00 in a research note on Thursday, January 22nd.

Torex Gold Resources Stock Performance

TSE:TXG opened at C$80.15 on Friday. Torex Gold Resources has a twelve month low of C$28.97 and a twelve month high of C$84.61. The company has a market cap of C$7.71 billion, a P/E ratio of 23.57, a P/E/G ratio of 0.02 and a beta of 1.28. The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. The company’s 50-day moving average price is C$67.47 and its 200-day moving average price is C$57.49.

Torex Gold Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, November 20th.

About Torex Gold Resources

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.