Cormark Comments on Torex Gold Resources Inc.’s Q2 2024 Earnings (TSE:TXG)

Torex Gold Resources Inc. (TSE:TXG) – Stock analysts at Cormark increased their Q2 2024 earnings per share estimates for Torex Gold Resources in a research report issued on Wednesday, July 31st. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $0.65 for the quarter, up from their previous forecast of $0.64. The consensus estimate for Torex Gold Resources’ current full-year earnings is $2.59 per share. Cormark also issued estimates for Torex Gold Resources’ Q3 2024 earnings at $0.85 EPS, Q4 2024 earnings at $0.33 EPS and FY2024 earnings at $2.42 EPS.

Torex Gold Resources (TSE:TXG) last released its quarterly earnings data on Wednesday, May 8th. The company reported C$0.57 earnings per share for the quarter, beating the consensus estimate of C$0.52 by C$0.05. The company had revenue of C$318.84 million for the quarter. Torex Gold Resources had a return on equity of 12.37% and a net margin of 20.14%.

A number of other analysts have also recently weighed in on TXG. National Bankshares upped their price target on Torex Gold Resources from C$27.00 to C$27.50 and gave the company a “sector perform” rating in a research report on Monday, June 10th. Scotiabank upped their target price on shares of Torex Gold Resources from C$23.00 to C$25.00 in a research report on Thursday, May 23rd. Raymond James set a C$27.00 price objective on Torex Gold Resources and gave the stock an “outperform” rating in a report on Friday, June 7th. Canaccord Genuity Group boosted their target price on Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. Finally, CIBC boosted their price objective on Torex Gold Resources from C$23.00 to C$26.00 in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$26.56.

Torex Gold Resources Stock Performance

Shares of TSE:TXG opened at C$19.73 on Monday. The business’s fifty day moving average price is C$21.47 and its two-hundred day moving average price is C$18.96. Torex Gold Resources has a fifty-two week low of C$12.40 and a fifty-two week high of C$23.56. The stock has a market capitalization of C$1.70 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 0.02 and a beta of 1.33. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.07 and a quick ratio of 2.12.

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.