Torex Gold Resources (TSE:TXG) Price Target Raised to C$94.00

Torex Gold Resources (TSE:TXG) had its target price raised by equities research analysts at Royal Bank Of Canada from C$77.00 to C$94.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank Of Canada’s target price would indicate a potential upside of 53.14% from the stock’s current price.

TXG has been the subject of several other reports. Canaccord Genuity Group increased their price objective on shares of Torex Gold Resources from C$64.00 to C$77.00 in a research report on Thursday, October 2nd. National Bankshares reduced their target price on Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating for the company in a report on Tuesday. Raymond James Financial lifted their price target on shares of Torex Gold Resources from C$55.00 to C$58.00 in a report on Thursday, August 21st. Finally, CIBC lifted their price objective on shares of Torex Gold Resources from C$66.00 to C$90.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$69.20.

Torex Gold Resources Price Performance

Shares of Torex Gold Resources stock traded down C$0.10 on Wednesday, reaching C$61.38. 240,438 shares of the stock were exchanged, compared to its average volume of 395,829. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. Torex Gold Resources has a one year low of C$26.29 and a one year high of C$69.27. The firm has a market cap of C$5.90 billion, a PE ratio of 18.05, a P/E/G ratio of 0.02 and a beta of 0.83. The firm’s 50 day moving average is C$61.53 and its 200-day moving average is C$51.42.

About Torex Gold Resources

Torex Gold Resources Inc is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala.