Torex Gold Resources (TSE:TXG) Upgraded at CIBC

Torex Gold Resources (TSE:TXG - Get Free Report) was upgraded by stock analysts at CIBC from a "neutral" rating to an "outperform" rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a C$58.00 price target on the stock, up from their prior price target of C$42.00. CIBC's target price would indicate a potential upside of 22.78% from the company's current price.

A number of other research analysts have also weighed in on TXG. Raymond James raised their price objective on Torex Gold Resources from C$34.00 to C$47.00 in a report on Friday, April 4th. BMO Capital Markets increased their price target on Torex Gold Resources from C$36.00 to C$38.00 in a research report on Thursday, February 20th. Royal Bank of Canada raised their price target on Torex Gold Resources from C$44.00 to C$45.00 in a report on Friday, April 4th. Finally, Cormark boosted their price objective on shares of Torex Gold Resources from C$46.00 to C$55.00 in a report on Monday. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of C$45.19.

Torex Gold Resources Stock Down 2.1 %

TSE:TXG traded down C$1.00 during trading hours on Monday, reaching C$47.24. The company's stock had a trading volume of 508,335 shares, compared to its average volume of 326,368. The company has a market capitalization of C$2.86 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. The stock has a 50 day moving average price of C$36.21 and a two-hundred day moving average price of C$31.49. Torex Gold Resources has a 12 month low of C$18.79 and a 12 month high of C$48.59.

Insider Buying and Selling at Torex Gold Resources

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

Torex Gold Resources Company Profile

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.