Torex Gold Resources (TSE:TXG) Reaches New 52-Week High – Should You Buy?

Torex Gold Resources Inc. (TSE:TXG) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$38.30 and last traded at C$38.26, with a volume of 171136 shares changing hands. The stock had previously closed at C$35.87.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TXG shares. Royal Bank of Canada lifted their price objective on Torex Gold Resources from C$34.00 to C$37.00 in a research report on Friday, December 6th. BMO Capital Markets lifted their price target on shares of Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday, February 20th. Raymond James upped their price objective on shares of Torex Gold Resources from C$33.00 to C$34.00 in a report on Tuesday, January 7th. Finally, CIBC lifted their target price on shares of Torex Gold Resources from C$36.00 to C$42.00 in a research note on Friday, February 21st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Torex Gold Resources presently has a consensus rating of “Buy” and a consensus price target of C$36.53.

Torex Gold Resources Stock Up 7.4 %

The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. The stock’s 50-day moving average price is C$32.36 and its two-hundred day moving average price is C$29.57. The stock has a market capitalization of C$2.34 billion, a PE ratio of 20.71, a P/E/G ratio of 0.02 and a beta of 1.34.

Insider Buying and Selling at Torex Gold Resources

In other news, Director Caroline Donally purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 20th. The shares were bought at an average price of C$27.91 per share, for a total transaction of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were 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.