Torex Gold Resources (TSE:TXG) Price Target Raised to C$34.00 at Raymond James

Torex Gold Resources (TSE:TXG) had its price objective hoisted by research analysts at Raymond James from C$33.00 to C$34.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Raymond James’ price target would suggest a potential upside of 21.17% from the company’s previous close.

Several other brokerages have also recently issued reports on TXG. BMO Capital Markets increased their price objective on Torex Gold Resources from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank raised their price target on Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. Royal Bank of Canada upped their price objective on shares of Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. National Bank Financial raised shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, CIBC upped their price target on shares of Torex Gold Resources from C$33.00 to C$34.50 in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$34.81.

Torex Gold Resources Price Performance

Shares of TSE:TXG traded down C$0.07 during mid-day trading on Tuesday, reaching C$28.06. The stock had a trading volume of 121,180 shares, compared to its average volume of 142,898. The business’s 50 day moving average price is C$28.92 and its 200 day moving average price is C$25.91. Torex Gold Resources has a 1 year low of C$12.79 and a 1 year high of C$32.75. The company has a current ratio of 1.09, a quick ratio of 2.12 and a debt-to-equity ratio of 7.32. The company has a market cap of C$2.41 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34.

Torex Gold Resources (TSE:TXG) last released its earnings results on Wednesday, November 6th. The company reported C$1.02 earnings per share for the quarter, beating the consensus estimate of C$0.82 by C$0.20. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The firm had revenue of C$427.96 million for the quarter. Research analysts expect that Torex Gold Resources will post 3.6254502 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.