ATEX Resources (CVE:ATX) Reaches New 1-Year High – Here’s Why

by · The Markets Daily

ATEX Resources Inc. (CVE:ATX – Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as C$3.26 and last traded at C$3.26, with a volume of 1656128 shares traded. The stock had previously closed at C$2.76.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Securities raised ATEX Resources to a “strong-buy” rating in a research report on Tuesday. Desjardins upgraded shares of ATEX Resources to a “moderate buy” rating in a research note on Thursday, November 6th. BMO Capital Markets set a C$4.00 target price on shares of ATEX Resources and gave the stock an “outperform” rating in a research note on Monday, November 10th. Stifel Nicolaus increased their price target on shares of ATEX Resources from C$4.00 to C$4.50 in a report on Tuesday, October 21st. Finally, Ventum Cap Mkts upgraded shares of ATEX Resources to a “strong-buy” rating in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, ATEX Resources currently has a consensus rating of “Strong Buy” and an average target price of C$4.25.

Get Our Latest Analysis on ATX

ATEX Resources Trading Up 18.1%

The company has a market cap of C$1.13 billion, a PE ratio of -13.04 and a beta of 1.70. The business’s 50 day moving average is C$2.58 and its two-hundred day moving average is C$2.38.

ATEX Resources Company Profile

(Get Free Report)

ATEX Resources Inc engages in the exploration and evaluation of mineral properties in South America. Its flagship property is the Valeriano Copper Gold project covering approximately 3,705 hectares located in the north-central Chile. The company was formerly known as Colombia Crest Gold Corp. and changed its name to ATEX Resources Inc in February 2019. ATEX Resources Inc was incorporated in 1981 and is headquartered in Toronto, Canada.

Further Reading