Torex Gold Resources (TXG) Trading 7.2% Higher

Torex Gold Resources Inc (TSE:TXG)’s share price shot up 7.2% during mid-day trading on Wednesday . The company traded as high as C$13.13 and last traded at C$13.12. 331,092 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 615,918 shares. The stock had previously closed at C$12.24.

Several equities analysts have recently weighed in on the company. Canaccord Genuity reduced their price objective on Torex Gold Resources from C$19.00 to C$18.50 in a report on Friday, January 19th. TD Securities reduced their price objective on Torex Gold Resources from C$24.00 to C$19.00 and set a “buy” rating for the company in a report on Friday, November 10th. Desjardins reiterated a “buy” rating and issued a C$15.00 price objective on shares of Torex Gold Resources in a report on Wednesday, February 7th. Royal Bank of Canada dropped their target price on Torex Gold Resources from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Monday, December 4th. Finally, Clarus Securities cut Torex Gold Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of C$18.75.

The firm has a market capitalization of $991.78, a PE ratio of 16.32 and a beta of -1.63.

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Torex Gold Resources Company Profile

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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