Cormark Lifts Earnings Estimates for Torex Gold Resources

Torex Gold Resources Inc. (TSE:TXG - Free Report) - Analysts at Cormark increased their FY2024 earnings per share estimates for Torex Gold Resources in a research report issued on Friday, November 8th. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $3.53 for the year, up from their prior forecast of $3.34. The consensus estimate for Torex Gold Resources' current full-year earnings is $3.63 per share. Cormark also issued estimates for Torex Gold Resources' FY2025 earnings at $4.31 EPS, FY2026 earnings at $4.03 EPS and FY2027 earnings at $4.60 EPS.

Torex Gold Resources (TSE:TXG - Get Free Report) last issued its quarterly 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 company had revenue of C$427.96 million during the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%.

TXG has been the subject of a number of other reports. Canaccord Genuity Group increased their price target on Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. National Bankshares raised Torex Gold Resources from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from C$31.25 to C$37.75 in a research report on Thursday, October 10th. BMO Capital Markets raised their target price 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. Royal Bank of Canada raised their target price on Torex Gold Resources from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Finally, Scotiabank raised their target price on Torex Gold Resources from C$27.00 to C$29.00 in a research report on Friday, September 6th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of C$31.86.

Torex Gold Resources Stock Performance

Shares of TXG traded down C$1.59 on Monday, reaching C$28.15. 235,918 shares of the company's stock traded hands, compared to its average volume of 261,670. 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 stock has a market cap of C$2.42 billion, a PE ratio of 16.96, a PEG ratio of 0.02 and a beta of 1.34. The stock's 50 day simple moving average is C$27.48 and its two-hundred day simple moving average is C$23.65. Torex Gold Resources has a 52-week low of C$12.40 and a 52-week 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.