Torex Gold Resources (TSE:TXG) Price Target Raised to C$38.00

Torex Gold Resources (TSE:TXG - Get Free Report) had its target price raised by equities research analysts at TD Securities from C$34.00 to C$38.00 in a report issued on Friday, BayStreet.CA reports. TD Securities' price objective would suggest a potential upside of 22.62% from the stock's current price.

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A number of other brokerages have also recently issued reports on TXG. Cormark upped their price objective on shares of Torex Gold Resources from C$30.00 to C$33.00 in a research note on Friday, September 6th. BMO Capital Markets raised their price objective on Torex Gold Resources from C$29.00 to C$30.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Scotiabank boosted their target price on Torex Gold Resources from C$27.00 to C$29.00 in a research note on Friday, September 6th. Royal Bank of Canada raised their price target 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, 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 report on Thursday, October 10th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$31.86.

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Torex Gold Resources Price Performance

TXG stock traded up C$1.27 during mid-day trading on Friday, reaching C$30.99. 250,875 shares of the company traded hands, compared to its average volume of 263,652. The company has a fifty day moving average price of C$25.96 and a 200-day moving average price of C$22.60. Torex Gold Resources has a 52-week low of C$12.40 and a 52-week high of C$31.32. The company has a market capitalization of C$2.66 billion, a P/E ratio of 18.67, a P/E/G ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12.

Torex Gold Resources (TSE:TXG - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported C$0.82 earnings per share for the quarter, beating the consensus estimate of C$0.70 by C$0.12. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The firm had revenue of C$369.83 million for the quarter. As a group, analysts anticipate that Torex Gold Resources will post 3.6254502 earnings per share for the current year.

About Torex Gold Resources

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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.

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