Raymond James Issues Positive Forecast for Torex Gold Resources (TSE:TXG) Stock Price

Torex Gold Resources (TSE:TXG) had its target price boosted by equities research analysts at Raymond James from C$34.00 to C$47.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports.

Several other analysts have also commented on the stock. CIBC lifted their price target on shares of Torex Gold Resources from C$36.00 to C$42.00 in a research report on Friday, February 21st. Royal Bank of Canada upped their price target on Torex Gold Resources from C$44.00 to C$45.00 in a research note on Friday. Finally, BMO Capital Markets increased their price target on Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday, February 20th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Torex Gold Resources currently has an average rating of “Buy” and an average price target of C$38.86.

Torex Gold Resources Price Performance

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$2.23 billion, a P/E ratio of 19.74, a PEG ratio of 0.02 and a beta of 1.34. The stock’s 50 day moving average price is C$34.13 and its 200-day moving average price is C$30.44. Torex Gold Resources has a 52 week low of C$18.79 and a 52 week high of C$40.27.

Insider Buying and Selling at Torex Gold Resources

In related news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was 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 business’s stock in a transaction 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. 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.