Canaccord Genuity Reaffirms Their Buy Rating on Torex Gold Resources (TXG)


Yesterday, an analyst has provided a rating update for the Materials sector company, Torex Gold Resources (TXG). Analyst Carey MacRury from Canaccord Genuity rated Torex Gold Resources (TXG) a Buy, setting a C$17.50 price target.

According to TipRanks.com, MacRury is a 1-star analyst with an average return of -2.3% and a 40.2% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Osisko Gold Royalties Ltd.

Currently, the analyst consensus on Torex Gold Resources is a Moderate Buy with an average price target of C$18.40, which is a 38.4% upside from current levels. In a report released yesterday, Desjardins also reiterated a Buy rating on the stock with a C$20 price target.

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Torex Gold Resources’ market cap is currently C$1.13B and has a P/E ratio of 0. The company has a Price to Book ratio of 1.15.

Torex Gold Resources, Inc. is a Canadian based resource company, which engages in the exploration and development of precious metal resources with a focus on gold. It holds interest in Morelos gold project. The company was founded on November 13, 1980 and is headquartered in Toronto, Canada.

The company’s shares closed on Monday at C$13.29.

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