Torex Gold Resources (TSE:TXG) Reaches New 1-Year High – Should You Buy?

Shares of Torex Gold Resources Inc. (TSE:TXG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$39.77 and last traded at C$39.71, with a volume of 131084 shares. The stock had previously closed at C$38.40.

Wall Street Analysts Forecast Growth

TXG has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. Raymond James lifted their price target on Torex Gold Resources from C$33.00 to C$34.00 in a report on Tuesday, January 7th. CIBC upped their price objective on shares of Torex Gold Resources from C$36.00 to C$42.00 in a research note on Friday, February 21st. Finally, BMO Capital Markets raised their price target on Torex Gold Resources from C$36.00 to C$38.00 in a research note on Thursday, February 20th. Four equities 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.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$36.53.

Torex Gold Resources Stock Performance

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 simple moving average is C$33.14 and its two-hundred day simple moving average is C$29.98. The stock has a market cap of C$2.42 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34.

Insider Buying and Selling

In related news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total value of C$162,898.31. Also, Director Caroline Donally bought 1,000 shares of Torex Gold Resources stock in a transaction that occurred on Monday, January 20th. The stock was purchased at an average cost of C$27.91 per share, with a total value of C$27,908.00. 0.35% of the stock is owned by insiders.

Torex Gold Resources Company Profile

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.