Torex Gold Resources (TXG) Sets New 12-Month Low on Analyst Downgrade

Torex Gold Resources Inc (TSE:TXG) reached a new 52-week low on Tuesday after Royal Bank Of Canada lowered their price target on the stock from C$28.00 to C$22.00. Royal Bank Of Canada currently has an outperform rating on the stock. Torex Gold Resources traded as low as C$12.09 and last traded at C$12.72, with a volume of 260515 shares trading hands. The stock had previously closed at C$12.56.

TXG has been the subject of several other research reports. Scotiabank lowered their price objective on shares of Torex Gold Resources from C$34.00 to C$15.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 8th. Eight Capital reiterated a “buy” rating on shares of Torex Gold Resources in a research report on Thursday, November 16th. TD Securities upgraded shares of Torex Gold Resources from a “hold” rating to a “buy” rating and set a C$24.00 price target for the company in a research report on Wednesday, October 25th. Finally, Clarus Securities cut shares of Torex Gold Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$18.67.

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About Torex Gold Resources

Torex Gold Resources Inc is a Canada-based resource company. The Company operates through the segment of mineral exploration and mine development and operation in Mexico. The Company is engaged in the exploration, development and operation of the Morelos Gold Property. The Morelos Gold Property is located in the Guerrero Gold Belt in southern Mexico, approximately 180 kilometers to the southwest of Mexico City and 50 kilometers southwest of Iguala.

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