Scotiabank Expects Weaker Earnings for Torex Gold Resources

Torex Gold Resources Inc. (TSE:TXG) – Scotiabank dropped their FY2027 earnings per share estimates for shares of Torex Gold Resources in a research report issued to clients and investors on Tuesday, August 4th. Scotiabank analyst E. Winmill now forecasts that the company will post earnings per share of $8.82 for the year, down from their previous estimate of $8.83. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share.

Torex Gold Resources (TSE:TXG) last posted its earnings results on Thursday, August 6th. The company reported C$1.28 earnings per share for the quarter. The firm had revenue of C$578.12 million during the quarter. Torex Gold Resources had a return on equity of 26.78% and a net margin of 34.17%.

Separately, National Bank Financial raised their price objective on shares of Torex Gold Resources from C$98.00 to C$101.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$88.71.

Torex Gold Resources Stock Performance

Shares of Torex Gold Resources stock opened at C$59.81 on Friday. The firm has a market capitalization of C$5.58 billion, a P/E ratio of 9.58, a P/E/G ratio of 0.02 and a beta of 1.96. Torex Gold Resources has a 52 week low of C$40.01 and a 52 week high of C$85.00. The company has a quick ratio of 2.12, a current ratio of 1.37 and a debt-to-equity ratio of 4.01. The firm’s 50 day moving average is C$56.92 and its two-hundred day moving average is C$62.89.

Insiders Place Their Bets

In other news, insider Daniel James Thomas Rollins acquired 850 shares of Torex Gold Resources stock in a transaction on Tuesday, June 2nd. The stock was bought at an average price of C$61.51 per share, for a total transaction of C$52,283.50. Following the completion of the purchase, the insider owned 13,926 shares in the company, valued at C$856,588.26. This represents a 6.50% increase in their ownership of the stock. Insiders purchased a total of 2,250 shares of company stock valued at $137,030 in the last three months. 0.35% of the stock is currently owned by insiders.

Torex Gold Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.1%. This is a positive change from Torex Gold Resources’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, May 21st. Torex Gold Resources’s dividend payout ratio is presently 3.48%.

About Torex Gold Resources

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.