Torex Gold Resources (TSE:TXG) Sets New 1-Year High – Should You Buy?

Torex Gold Resources Inc. (TSE:TXG)’s share price hit a new 52-week high on Monday . The stock traded as high as C$85.00 and last traded at C$82.55, with a volume of 390507 shares trading hands. The stock had previously closed at C$83.11.

Wall Street Analyst Weigh In

TXG has been the subject of several recent research reports. TD Securities increased their price target on shares of Torex Gold Resources from C$78.00 to C$96.00 in a research report on Thursday, January 22nd. Royal Bank Of Canada increased their target price on Torex Gold Resources from C$77.00 to C$94.00 in a report on Wednesday, December 10th. Scotiabank raised their target price on Torex Gold Resources from C$72.00 to C$95.00 in a research report on Monday, January 26th. National Bank Financial decreased their price target on Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 9th. Finally, Canadian Imperial Bank of Commerce upped their price target on Torex Gold Resources from C$90.00 to C$100.00 in a research report on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$78.10.

Torex Gold Resources Stock Performance

The stock has a 50-day moving average of C$69.45 and a 200 day moving average of C$61.64. The firm has a market capitalization of C$7.82 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 0.02 and a beta of 1.13. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 19th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, March 5th.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.