Torex Gold Resources (TSE:TXG) PT Raised to C$32.00

Torex Gold Resources (TSE:TXG) had its price objective lifted by equities researchers at Royal Bank of Canada from C$30.00 to C$32.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 27.80% from the company’s previous close.

Other analysts have also issued research reports about the company. Raymond James set a C$27.00 price target on Torex Gold Resources and gave the company an “outperform” rating in a report on Friday, June 7th. Scotiabank upgraded Torex Gold Resources from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$26.00 to C$27.00 in a report on Monday, August 19th. Canaccord Genuity Group increased their target price on Torex Gold Resources from C$30.50 to C$32.00 in a research note on Tuesday, July 23rd. National Bankshares raised their price objective on 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. Finally, TD Securities dropped their price objective on Torex Gold Resources from C$34.00 to C$33.00 in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Torex Gold Resources has an average rating of “Moderate Buy” and an average price target of C$28.44.

Torex Gold Resources Stock Performance

Shares of TSE TXG traded down C$0.96 during midday trading on Tuesday, hitting C$25.04. 122,047 shares of the company’s stock traded hands, compared to its average volume of 262,069. Torex Gold Resources has a 1 year low of C$12.40 and a 1 year high of C$26.85. The stock has a market capitalization of C$2.15 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 0.02 and a beta of 1.33. The company has a debt-to-equity ratio of 7.32, a quick ratio of 2.12 and a current ratio of 1.09. The firm has a fifty day moving average of C$22.77 and a 200 day moving average of C$20.40.

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