BMO Capital Markets Raises Torex Gold Resources (TSE:TXG) Price Target to C$30.00

Torex Gold Resources (TSE:TXG) had its price target lifted by BMO Capital Markets from C$29.00 to C$30.00 in a research note published on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on TXG. Cormark raised their price target on shares of Torex Gold Resources from C$30.00 to C$33.00 in a research note on Friday, September 6th. Raymond James set a C$27.00 target price on shares of Torex Gold Resources and gave the stock an outperform rating in a research report on Friday, June 7th. National Bankshares raised their target price on shares of Torex Gold Resources from C$27.00 to C$27.50 and gave the stock a sector perform rating in a research report on Monday, June 10th. TD Securities cut their price target on shares of Torex Gold Resources from C$34.00 to C$33.00 in a report on Friday, August 9th. Finally, Royal Bank of Canada raised their price target on shares of Torex Gold Resources from C$32.00 to C$34.00 and gave the company an outperform rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$30.17.

Torex Gold Resources Stock Performance

Shares of TXG opened at C$25.74 on Tuesday. The company has a 50-day simple moving average of C$23.31 and a 200-day simple moving average of C$20.90. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. The company has a market capitalization of C$2.21 billion, a PE ratio of 15.79, a P/E/G ratio of 0.02 and a beta of 1.35. Torex Gold Resources has a 52-week low of C$12.40 and a 52-week high of C$26.85.

Torex Gold Resources (TSE:TXG) last posted its earnings results on Wednesday, August 7th. The company reported C$0.82 earnings per share for the quarter, beating the consensus estimate of C$0.70 by C$0.12. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. The firm had revenue of C$369.83 million during the quarter. Equities research analysts predict that Torex Gold Resources will post 3.2219355 earnings per share for the current fiscal year.

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.