RBC Capital Reiterates Their Buy Rating on Torex Gold Resources

By Ryan Adsit

Torex Gold Resources (TSX: TXG), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Stephen Walker from RBC Capital reiterated a Buy rating, with a C$29 price target.

According to TipRanks.com, Walker is a 3-star analyst with an average return of 2.1% and a 47.9% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Novagold Resources Inc New, and Newmont Mining Corporation.

Torex Gold Resources has an analyst consensus of Strong Buy, with a price target consensus of C$33.17.

The company has a one year high of C$35.17 and a one year low of C$17.05. Currently, Torex Gold Resources has an average volume of 466.8K.

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 last Monday at $22.29.