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

Torex Gold Resources (TSE:TXG) had its target price lifted by research analysts at Scotiabank from C$27.00 to C$29.00 in a research note issued on Friday, BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 21.75% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Raymond James set a C$27.00 target price on shares of Torex Gold Resources and gave the stock an “outperform” rating in a research note on Friday, June 7th. TD Securities dropped their target price on shares of Torex Gold Resources from C$34.00 to C$33.00 in a research note on Friday, August 9th. CIBC boosted their target price on shares of Torex Gold Resources from C$23.00 to C$26.00 in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their price target on shares of Torex Gold Resources from C$30.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Canaccord Genuity Group boosted their price target on shares of Torex Gold Resources from C$30.50 to C$32.00 in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$29.17.

Torex Gold Resources Price Performance

TSE:TXG traded down C$1.06 on Friday, reaching C$23.82. The stock had a trading volume of 166,546 shares, compared to its average volume of 262,809. The company has a market capitalization of C$2.05 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 0.02 and a beta of 1.33. Torex Gold Resources has a 1-year low of C$12.40 and a 1-year high of C$26.85. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. The stock has a fifty day moving average price of C$23.00 and a 200-day moving average price of C$20.53.

Torex Gold Resources (TSE:TXG) last released its quarterly earnings results on Wednesday, August 7th. The company reported C$0.82 EPS for the quarter, beating analysts’ consensus estimates 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 forecast that Torex Gold Resources will post 2.688728 EPS for the current 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.