ATEX Resources (CVE:ATX) Hits New 1-Year High – Still a Buy?

ATEX Resources Inc. (CVE:ATX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company 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.

Wall Street Analysts Forecast Growth

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

ATEX Resources Price Performance

The firm has a market cap of C$1.28 billion, a price-to-earnings ratio of -14.80 and a beta of 2.28. The stock has a 50-day moving average price of C$2.91 and a 200 day moving average price of C$2.55.

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.