Torex Gold Resources (TXG) Hits New 1-Year Low on Analyst Downgrade

Torex Gold Resources Inc (TSE:TXG) shares 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 changing hands. The stock had previously closed at C$12.56.

Several other research analysts have also commented on the company. Clarus Securities lowered Torex Gold Resources from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Eight Capital reissued a “buy” rating on shares of Torex Gold Resources in a report on Thursday, November 16th. TD Securities raised Torex Gold Resources from a “hold” rating to a “buy” rating and set a C$24.00 price objective for the company in a report on Wednesday, October 25th. Finally, Scotiabank cut their price objective on Torex Gold Resources from C$34.00 to C$15.00 and set a “sector perform” rating for the company in a report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Torex Gold Resources has a consensus rating of “Buy” and a consensus 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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