CIBC Raises Torex Gold Resources (TSE:TXG) Price Target to C$42.00

Torex Gold Resources (TSE:TXG) had its price objective raised by equities research analysts at CIBC from C$36.00 to C$42.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 27.16% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Scotiabank raised their target price on Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. Raymond James increased their price objective on shares of Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. Royal Bank of Canada increased their price objective on shares of Torex Gold Resources from C$34.00 to C$37.00 in a research report on Friday, December 6th. Finally, BMO Capital Markets increased their target price on shares of Torex Gold Resources from C$36.00 to C$38.00 in a research report on Thursday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Torex Gold Resources has a consensus rating of “Buy” and a consensus price target of C$36.53.

Torex Gold Resources Price Performance

TXG stock opened at C$33.03 on Friday. The business has a fifty day moving average of C$30.11 and a two-hundred day moving average of C$28.13. 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 stock has a market cap of C$2.00 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 52-week low of C$13.20 and a 52-week high of C$35.89.

Insider Activity

In related news, Director Caroline Donally acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 20th. The shares were purchased at an average price of C$27.91 per share, with a total value of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total transaction of C$162,898.31. Insiders own 0.35% of the company’s stock.

About Torex Gold Resources

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.