Torex Gold Resources (TSE:TXG) PT Raised to C$29.00

Torex Gold Resources (TSE:TXG) had its target price raised by Scotiabank from C$27.00 to C$29.00 in a report released on Friday, BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 21.75% from the company’s current price.

Several other equities analysts have also weighed in on TXG. Royal Bank of Canada increased their price objective on shares of Torex Gold Resources from C$30.00 to C$32.00 and gave the company an “outperform” rating in a research report on Tuesday. TD Securities dropped their price objective on shares of Torex Gold Resources from C$34.00 to C$33.00 in a research report on Friday, August 9th. CIBC increased their price objective on shares of Torex Gold Resources from C$23.00 to C$26.00 in a research report on Wednesday, July 10th. Canaccord Genuity Group raised their price target on shares of Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. Finally, National Bankshares raised their price target on shares of Torex Gold Resources from C$27.00 to C$27.50 and gave the stock a “sector perform” rating in a research report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$29.17.

Torex Gold Resources Stock Performance

TSE TXG traded down C$1.06 on Friday, hitting C$23.82. 166,546 shares of the stock were exchanged, compared to its average volume of 262,809. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12. The business’s fifty day moving average is C$23.00 and its 200 day moving average is C$20.53. Torex Gold Resources has a 52 week low of C$12.40 and a 52 week high of C$26.85. The company has a market capitalization of C$2.05 billion, a PE ratio of 14.78, a P/E/G ratio of 0.02 and a beta of 1.33.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported C$0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.70 by C$0.12. The firm had revenue of C$369.83 million for the quarter. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. Research analysts anticipate that Torex Gold Resources will post 2.688728 EPS for the current fiscal year.

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.