National Bank Financial Comments on TSE:TXG FY2024 Earnings

Torex Gold Resources Inc. (TSE:TXG) – Equities research analysts at National Bank Financial increased their FY2024 earnings estimates for Torex Gold Resources in a research report issued on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings of $2.58 per share for the year, up from their prior forecast of $2.49. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share.

Torex Gold Resources (TSE:TXG) last announced its earnings results 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 company 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%.

Several other equities analysts have also recently weighed in on TXG. National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$31.25 to C$37.75 in a research note on Thursday, October 10th. Canaccord Genuity Group upped their price objective on shares of Torex Gold Resources from C$30.50 to C$32.00 in a research note on Tuesday, July 23rd. BMO Capital Markets increased their target price on shares of Torex Gold Resources from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. CIBC boosted their price target on shares of Torex Gold Resources from C$23.00 to C$26.00 in a report on Wednesday, July 10th. Finally, TD Securities increased their price objective on Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$31.86.

Torex Gold Resources Stock Performance

The company’s fifty day simple moving average is C$26.45 and its two-hundred day simple moving average is C$22.83. The firm has a market capitalization of C$2.66 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth 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 52-week low of C$12.40 and a 52-week high of C$32.10.

Torex Gold Resources Company Profile

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.