Scotiabank Has Optimistic Outlook of TSE:TXG FY2024 Earnings

Torex Gold Resources Inc. (TSE:TXG) – Analysts at Scotiabank increased their FY2024 earnings estimates for shares of Torex Gold Resources in a note issued to investors on Wednesday, January 8th. Scotiabank analyst E. Winmill now forecasts that the company will post earnings of $2.43 per share for the year, up from their previous forecast of $2.31. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Scotiabank also issued estimates for Torex Gold Resources’ FY2025 earnings at $2.21 EPS.

Several other brokerages also recently commented on TXG. Royal Bank of Canada upped their target price on shares of Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. National Bank Financial raised Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$31.25 to C$37.75 in a research note on Thursday, October 10th. TD Securities raised their price target on Torex Gold Resources from C$34.00 to C$38.00 in a research report on Friday, October 18th. Finally, Raymond James boosted their price objective on Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$34.81.

Torex Gold Resources Stock Performance

Shares of TXG stock opened at C$28.78 on Friday. The stock has a market cap of C$2.47 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The stock has a 50-day moving average of C$28.84 and a 200-day moving average of C$26.04. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12. Torex Gold Resources has a one year low of C$12.79 and a one year high of C$32.75.

Torex Gold Resources (TSE:TXG) last released its earnings results on Wednesday, November 6th. The company reported C$1.02 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of C$427.96 million during the quarter.

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.