Scotiabank Issues Positive Forecast for Torex Gold Resources (TSE:TXG) Stock Price

Torex Gold Resources (TSE:TXG) had its price target boosted by research analysts at Scotiabank from C$33.00 to C$37.00 in a report issued on Thursday,BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 20.64% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Cormark upped their price objective on shares of Torex Gold Resources from C$30.00 to C$33.00 in a report on Friday, September 6th. Royal Bank of Canada upped their price objective on shares of Torex Gold Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. BMO Capital Markets upped their price target on shares of Torex Gold Resources from C$29.00 to C$30.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. TD Securities upped their price target on shares of Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Finally, National Bankshares raised shares of Torex Gold Resources from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$31.25 to C$37.75 in a research report on Thursday, October 10th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Torex Gold Resources presently has a consensus rating of “Buy” and a consensus price target of C$32.75.

Torex Gold Resources Stock Up 2.7 %

TSE:TXG traded up C$0.80 during trading hours on Thursday, hitting C$30.67. 137,316 shares of the stock traded hands, compared to its average volume of 260,133. The firm has a 50 day moving average price of C$27.98 and a 200 day moving average price of C$24.08. 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 fifty-two week low of C$12.77 and a fifty-two week high of C$32.10. The firm has a market cap of C$2.64 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 0.02 and a beta of 1.34.

Torex Gold Resources (TSE:TXG) last announced 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. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. The company had revenue of C$427.96 million for the quarter. Equities research analysts anticipate that Torex Gold Resources will post 3.6254502 earnings per share for the current 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.