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

Torex Gold Resources (TSE:TXG) had its price target lifted by Scotiabank from C$27.00 to C$29.00 in a research report sent to investors on Friday, BayStreet.CA reports.

A number of other research analysts have also issued reports on the stock. National Bankshares upped their price target 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 note on Monday, June 10th. CIBC upped their target price on Torex Gold Resources from C$23.00 to C$26.00 in a report on Wednesday, July 10th. Royal Bank of Canada increased their price target on Torex Gold Resources from C$30.00 to C$32.00 and gave the stock an outperform rating in a report on Tuesday, September 3rd. Canaccord Genuity Group boosted their target price on Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. Finally, Raymond James set a C$27.00 price target on Torex Gold Resources and gave the stock an outperform rating in a research report on Friday, June 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Torex Gold Resources currently has an average rating of Moderate Buy and an average price target of C$29.17.

Torex Gold Resources Stock Up 1.8 %

TXG opened at C$24.24 on Friday. The firm’s 50 day simple moving average is C$23.11 and its two-hundred day simple moving average is C$20.77. The company has a market capitalization of C$2.08 billion, a PE ratio of 15.06, a PEG 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 current ratio of 1.09, a quick ratio of 2.12 and a debt-to-equity ratio of 7.32.

Torex Gold Resources (TSE:TXG) last released its quarterly earnings data on Wednesday, August 7th. The company reported C$0.82 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts forecast 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.