Royal Bank of Canada Forecasts Strong Price Appreciation for Torex Gold Resources (TSE:TXG) Stock

Torex Gold Resources (TSE:TXG) had its target price increased by equities researchers at Royal Bank of Canada from C$34.00 to C$37.00 in a note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 31.44% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. Scotiabank boosted their price objective on Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. CIBC boosted their target price on Torex Gold Resources from C$33.00 to C$34.50 in a report on Monday, December 2nd. National Bank Financial raised Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. BMO Capital Markets boosted their target price on Torex Gold Resources from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, TD Securities boosted their target price on Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$34.03.

Torex Gold Resources Stock Performance

Shares of TXG stock opened at C$28.15 on Friday. 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 business has a 50 day moving average of C$28.92 and a two-hundred day moving average of C$24.87. Torex Gold Resources has a 52 week low of C$12.79 and a 52 week high of C$32.75. The company has a market cap of C$2.42 billion, a P/E ratio of 16.96, a PEG ratio of 0.02 and a beta of 1.34.

Torex Gold Resources (TSE:TXG) last issued its earnings results on Wednesday, November 6th. The company reported C$1.02 EPS for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.20. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The company had revenue of C$427.96 million during the quarter. As a group, analysts anticipate that Torex Gold Resources will post 3.6254502 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.