Cormark Predicts Stronger Earnings for Torex Gold Resources

Torex Gold Resources Inc. (TSE:TXG) – Cormark upped their FY2024 earnings estimates for Torex Gold Resources in a report released on Wednesday, December 4th. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $3.56 for the year, up from their prior estimate of $3.53. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Cormark also issued estimates for Torex Gold Resources’ Q4 2024 earnings at $1.05 EPS.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$1.02 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 firm had revenue of C$427.96 million for the quarter.

Several other equities analysts also recently commented on the stock. National Bankshares upgraded shares of Torex Gold Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$31.25 to C$37.75 in a research note on Thursday, October 10th. National Bank Financial raised Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. CIBC lifted their price objective on Torex Gold Resources from C$33.00 to C$34.50 in a research note on Monday. Scotiabank increased their price objective on Torex Gold Resources from C$33.00 to C$37.00 in a report on Thursday, November 21st. Finally, TD Securities lifted their price objective on Torex Gold Resources from C$34.00 to C$38.00 in a research note on Friday, October 18th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$33.69.

Torex Gold Resources Stock Up 3.0 %

Shares of TXG stock opened at C$32.03 on Thursday. The stock has a 50 day moving average of C$28.89 and a 200-day moving average of C$24.79. 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 firm has a market cap of C$2.75 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 12 month low of C$12.79 and a 12 month high of C$32.10.

Torex Gold Resources Company Profile

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.