TD Securities Raises Price Target for Torex Gold Resources

On Friday, TD Securities announced an increase in the price target for Torex Gold Resources (TSE:TXG), raising it from C$34.00 to C$38.00. This adjustment suggests a potential upside of approximately 22.30% from the company's current stock price.

A variety of other research organizations have also made updates regarding the shares of Torex Gold Resources. For instance, on July 10th, CIBC raised their price target from C$23.00 to C$26.00. Similarly, on September 10th, BMO Capital Markets increased their target from C$29.00 to C$30.00 while rating the company as "outperform." In another update on October 9th, National Bank Financial upgraded Torex Gold from a "hold" to a "strong-buy." Canaccord Genuity Group had previously raised their projection from C$30.50 to C$32.00 on July 23rd. Furthermore, on October 10th, National Bankshares improved their rating from "sector perform" to "outperform," raising their price target from C$31.25 to C$37.75.

Currently, five analysts have rated the stock as a "buy," while one has given it a "strong buy" rating. As per MarketBeat.com, Torex Gold Resources holds an average rating of "Buy" among these analysts, with a consensus target price of C$31.86.

Torex Gold Resources Stock Performance

During midday trading on Friday, shares of Torex Gold Resources experienced an increase, rising by C$1.35 to reach C$31.07. The trading volume registered at 158,039 shares, in contrast to the average volume of 263,192 shares. The fifty-day moving average for the stock stands at C$25.75, while the two-hundred-day moving average is noted at C$22.52. The company's current ratio is 1.09, with a quick ratio of 2.12 and a debt-to-equity ratio of 7.32. With a market capitalization of C$2.67 billion, the company has a price-to-earnings (PE) ratio of 18.68 and a price-to-earnings-growth (PEG) ratio of 0.02, along with a beta of 1.34. Over the past year, the stock has fluctuated between a low of C$12.40 and a high of C$31.16.

Recent Earnings Results

Torex Gold Resources released its earnings results on August 7th, revealing an earnings per share (EPS) of C$0.82 for the quarter, exceeding the anticipated estimate of C$0.70 by C$0.12. The company reported revenues totaling C$369.83 million for the quarter. Additionally, the return on equity was reported at 7.12%, with a net profit margin of 11.16%. Analysts project an average EPS of approximately 3.63 for Torex Gold Resources for the current year.

About Torex Gold Resources

Torex Gold Resources Inc operates as an intermediate gold producer based in Mexico. The company holds a 100% interest in the Morelos Gold property, which encompasses the Morelos Complex that includes the El Limón Guajes Mine Complex and the Media Luna Project, alongside a processing plant and associated infrastructure that spans an area of 29,000 hectares located southwest of Mexico City.

Torex, Gold, Resources