Torex Gold Resources (TSE:TXG) Stock Price Expected to Rise, Scotiabank Analyst Says

Torex Gold Resources (TSE:TXG) had its target price upped by equities research analysts at Scotiabank from C$33.00 to C$37.00 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 19.09% from the company’s previous close.

A number of other brokerages have also commented on TXG. TD Securities lifted their price target on shares of Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Royal Bank of Canada lifted their target price on Torex Gold Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Cormark raised their price objective on Torex Gold Resources from C$30.00 to C$33.00 in a research report on Friday, September 6th. National Bankshares upgraded Torex Gold Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$31.25 to C$37.75 in a report on Thursday, October 10th. Finally, 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. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$32.75.

Torex Gold Resources Price Performance

Shares of TXG stock opened at C$31.07 on Thursday. The business has a fifty day simple moving average of C$28.10 and a 200 day simple moving average of C$24.16. The company has a market cap of C$2.67 billion, a P/E ratio of 18.72, a P/E/G ratio of 0.02 and a beta of 1.34. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. Torex Gold Resources has a twelve month low of C$12.77 and a twelve month high of C$32.10.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.02 EPS for the quarter, beating the consensus estimate of C$0.82 by C$0.20. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. The business had revenue of C$427.96 million during the quarter. On average, sell-side analysts forecast that Torex Gold Resources will post 3.6254502 EPS for the current fiscal 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.