Torex Gold Resources Inc. (TSE:TXG) Receives Average Recommendation of “Buy” from Brokerages

Torex Gold Resources Inc. (TSE:TXG) has been assigned a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$33.69.

A number of analysts recently commented on the company. BMO Capital Markets lifted their price objective on Torex Gold Resources from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Cormark lifted their price target on shares of Torex Gold Resources from C$30.00 to C$33.00 in a report on Friday, September 6th. TD Securities upped their price objective on shares of Torex Gold Resources from C$34.00 to C$38.00 in a research note on Friday, October 18th. CIBC boosted their price target on Torex Gold Resources from C$33.00 to C$34.50 in a report on Monday. Finally, National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$31.25 to C$37.75 in a research note on Thursday, October 10th.

Torex Gold Resources Stock Down 1.5 %

TXG stock opened at C$29.26 on Tuesday. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12. The company’s 50 day simple moving average is C$28.57 and its 200-day simple moving average is C$24.60. Torex Gold Resources has a 12 month low of C$12.79 and a 12 month high of C$32.10. The firm has a market capitalization of C$2.52 billion, a PE ratio of 17.63, a P/E/G 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 EPS for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.20. The firm had revenue of C$427.96 million for the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. Equities analysts expect that Torex Gold Resources will post 3.6254502 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.