Torex Gold Resources (TSE:TXG) Price Target Raised to C$33.00 at Cormark

Torex Gold Resources (TSE:TXG) had its price target boosted by stock analysts at Cormark from C$30.00 to C$33.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Cormark’s price objective suggests a potential upside of 38.54% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. National Bankshares lifted their price objective on shares of Torex Gold Resources from C$27.00 to C$27.50 and gave the company a “sector perform” rating in a research report on Monday, June 10th. Canaccord Genuity Group lifted their price objective on shares of Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. TD Securities lowered 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 lifted 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. Finally, Raymond James set a C$27.00 target price on Torex Gold Resources and gave the company an “outperform” rating in a report on Friday, June 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Torex Gold Resources has an average 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 during midday trading 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 firm has a fifty day simple moving average of C$23.00 and a two-hundred day simple moving average of C$20.53. Torex Gold Resources has a 12-month low of C$12.40 and a 12-month 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 market cap of C$2.05 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.02 and a beta of 1.33.

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

About Torex Gold Resources

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.