Torex Gold Resources (TSE:TXG) Reaches New 52-Week High – What’s Next?

Torex Gold Resources Inc. (TSE:TXG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$71.97 and last traded at C$71.18, with a volume of 650904 shares trading hands. The stock had previously closed at C$67.94.

Analyst Ratings Changes

Several research firms have weighed in on TXG. CIBC increased their price objective on Torex Gold Resources from C$66.00 to C$90.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Royal Bank Of Canada raised their price target on Torex Gold Resources from C$77.00 to C$94.00 in a research note on Wednesday, December 10th. Canaccord Genuity Group boosted their price objective on shares of Torex Gold Resources from C$64.00 to C$77.00 in a research report on Thursday, October 2nd. Finally, National Bankshares dropped their target price on shares of Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating for the company in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$69.20.

Torex Gold Resources Stock Up 5.2%

The company has a fifty day moving average of C$64.42 and a 200 day moving average of C$55.01. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. The company has a market cap of C$6.88 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 0.02 and a beta of 1.28.

Torex Gold Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, December 4th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, November 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%.

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.