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

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

Other research analysts have also recently issued reports about the company. BMO Capital Markets upped 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. National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$31.25 to C$37.75 in a research report on Thursday, October 10th. Cormark increased their target price on Torex Gold Resources from C$30.00 to C$33.00 in a research note on Friday, September 6th. National Bank Financial raised Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, TD Securities raised their price objective on Torex Gold Resources from C$34.00 to C$38.00 in a research note on Friday, October 18th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Torex Gold Resources presently has an average rating of “Buy” and an average target price of C$32.75.

Torex Gold Resources Stock Performance

Shares of TXG stock traded up C$0.80 during mid-day trading on Thursday, reaching C$30.67. The stock had a trading volume of 137,316 shares, compared to its average volume of 260,133. The business’s fifty day moving average is C$27.98 and its 200-day moving average is 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. 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 has a 1-year low of C$12.77 and a 1-year high of C$32.10.

Torex Gold Resources (TSE:TXG) last posted its earnings results on Wednesday, November 6th. The company reported C$1.02 EPS for the quarter, topping the consensus estimate 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%. On average, research analysts forecast 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.