Torex Gold Resources (TSE:TXG) Stock Rating Upgraded by CIBC

CIBC upgraded shares of Torex Gold Resources (TSE:TXG) from a neutral rating to an outperform rating in a report published on Monday,BayStreet.CA reports. The brokerage currently has C$58.00 price target on the stock, up from their previous price target of C$42.00.

Several other equities research analysts have also recently weighed in on the company. Cormark boosted their price objective on Torex Gold Resources from C$46.00 to C$55.00 in a research note on Monday. Raymond James boosted their target price on Torex Gold Resources from C$34.00 to C$47.00 in a research report on Friday, April 4th. Royal Bank of Canada raised their price target on Torex Gold Resources from C$44.00 to C$45.00 in a research report on Friday, April 4th. Finally, BMO Capital Markets boosted their price objective on shares of Torex Gold Resources from C$36.00 to C$38.00 in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$43.08.

Torex Gold Resources Stock Performance

Shares of TSE:TXG opened at C$43.93 on Monday. The firm has a fifty day simple moving average of C$35.41 and a two-hundred day simple moving average of C$31.11. 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 capitalization of C$2.66 billion, a P/E ratio of 23.62, a PEG ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 52 week low of C$18.79 and a 52 week high of C$46.39.

Insider Buying and Selling at Torex Gold Resources

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

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.