Torex Gold Resources (TSE:TXG) Given New C$34.50 Price Target at CIBC

Torex Gold Resources (TSE:TXG) had its price target hoisted by CIBC from C$33.00 to C$34.50 in a research report sent to investors on Monday,BayStreet.CA reports.

TXG has been the subject of several other research reports. Cormark boosted their price objective on shares of Torex Gold Resources from C$30.00 to C$33.00 in a research note on Friday, September 6th. 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. BMO Capital Markets raised their price objective on 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. Royal Bank of Canada upped their target price on Torex Gold Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, National Bank Financial upgraded Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note 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. According to MarketBeat.com, Torex Gold Resources currently has an average rating of “Buy” and a consensus price target of C$33.69.

Torex Gold Resources Trading Down 1.5 %

Shares of TSE:TXG opened at C$29.26 on Monday. The company has a market capitalization of C$2.52 billion, a PE ratio of 17.63, a P/E/G ratio of 0.02 and a beta of 1.34. The company has a current ratio of 1.09, a quick ratio of 2.12 and a debt-to-equity ratio of 7.32. Torex Gold Resources has a 12-month low of C$12.79 and a 12-month high of C$32.10. The business’s fifty day simple moving average is C$28.57 and its 200-day simple moving average is C$24.60.

Torex Gold Resources (TSE:TXG) last posted its earnings results on Wednesday, November 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.82 by C$0.20. The company had revenue of C$427.96 million for the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. As a group, equities research analysts predict that Torex Gold Resources will post 3.6254502 earnings per share for the current fiscal year.

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.