Torex Gold Resources (TSE:TXG) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Torex Gold Resources (TSE:TXG) had its price objective lifted by Royal Bank of Canada from C$60.00 to C$65.00 in a research note released on Thursday,BayStreet.CA reports.

Several other research firms have also recently weighed in on TXG. Cormark boosted their price objective on shares of Torex Gold Resources from C$46.00 to C$55.00 in a research report on Monday, April 14th. Scotiabank boosted their target price on Torex Gold Resources from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Raymond James upped their price target on Torex Gold Resources from C$34.00 to C$47.00 in a research note on Friday, April 4th. Cibc World Mkts upgraded Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. Finally, TD Securities lifted their price objective on Torex Gold Resources from C$39.00 to C$57.00 in a research report on Tuesday, April 15th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$55.00.

Torex Gold Resources Trading Up 5.6%

TXG opened at C$48.29 on Thursday. Torex Gold Resources has a 1-year low of C$19.01 and a 1-year high of C$49.07. The stock has a market capitalization of C$2.93 billion, a PE ratio of 25.96, a PEG ratio of 0.02 and a beta of 1.34. 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 firm has a 50-day moving average price of C$43.90 and a two-hundred day moving average price of C$35.85.

Torex Gold Resources Company Profile

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.