Torex Gold Resources (TSE:TXG) Price Target Lowered to C$23.50 at Canaccord Genuity

Torex Gold Resources (TSE:TXG) had its price objective lowered by Canaccord Genuity from C$24.50 to C$23.50 in a research note released on Wednesday, BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Torex Gold Resources from C$24.00 to C$22.00 in a research note on Friday, October 18th. CIBC reiterated a neutral rating and issued a C$20.50 target price on shares of Torex Gold Resources in a report on Wednesday, September 25th. Cormark cut their target price on shares of Torex Gold Resources from C$26.00 to C$25.00 in a report on Wednesday. Finally, Scotiabank increased their target price on shares of Torex Gold Resources from C$24.00 to C$26.00 in a report on Monday.

Shares of TXG traded down C$0.36 during mid-day trading on Wednesday, hitting C$17.92. 178,543 shares of the company traded hands, compared to its average volume of 391,271. Torex Gold Resources has a one year low of C$11.41 and a one year high of C$21.91. The company has a current ratio of 1.54, a quick ratio of 0.92 and a debt-to-equity ratio of 32.02. The business has a 50-day moving average of C$19.64 and a 200 day moving average of C$18.19. The stock has a market capitalization of $1.59 billion and a price-to-earnings ratio of 41.76.

Torex Gold Resources (TSE:TXG) last released its quarterly earnings results on Wednesday, October 30th. The company reported C$0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.47 by C$0.01. The company had revenue of C$261.67 million for the quarter. As a group, analysts anticipate that Torex Gold Resources will post 1.1799999 earnings per share for the current year.

About Torex Gold Resources

Torex Gold Resources Inc engages in the exploration, development, and operation of mineral properties in Mexico. The company explores for gold, silver, copper, and carbon deposits. It holds a 100% interest in the Morelos Gold property comprising the El Limón Guajes mine and the Media Luna deposit that consists of 7 mineral concessions covering a total area of approximately 29,000 hectares located in the Guerrero Gold Belt in southern Mexico.

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