CIBC Increases Torex Gold Resources (TSE:TXG) Price Target to C$23.00

Posted by Tyrone Williams on Apr 15th, 2024

Torex Gold Resources (TSE:TXG – Get Free Report) had its price target upped by CIBC from C$21.00 to C$23.00 in a note issued to investors on Monday, BayStreet.CA reports. CIBC’s price objective points to a potential upside of 18.50% from the stock’s previous close.

Torex Gold Resources Trading Down 1.3 %

TXG traded down C$0.25 during trading hours on Monday, reaching C$19.41. The company’s stock had a trading volume of 104,339 shares, compared to its average volume of 263,261. Torex Gold Resources has a fifty-two week low of C$12.40 and a fifty-two week high of C$25.40. The stock has a market cap of C$1.67 billion, a PE ratio of 6.07, a P/E/G ratio of 0.02 and a beta of 1.18. The business’s 50-day moving average is C$16.70 and its 200-day moving average is C$14.98. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.44 and a quick ratio of 2.12.

Torex Gold Resources (TSE:TXG – Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The company reported C$0.77 EPS for the quarter, missing analysts’ consensus estimates of C$0.98 by C($0.21). Torex Gold Resources had a net margin of 23.16% and a return on equity of 14.68%. The business had revenue of C$384.49 million during the quarter. As a group, equities research analysts predict that Torex Gold Resources will post 2.0050352 earnings per share for the current fiscal year.

Insider Activity at Torex Gold Resources

In other Torex Gold Resources news, Director Rodrigo Sandoval Navarro bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of C$9.97 per share, with a total value of C$49,843.00. Insiders have acquired 7,715 shares of company stock valued at $78,078 over the last quarter. 0.22% of the stock is owned by insiders.

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.