TD Securities Lowers Torex Gold Resources (TSE:TXG) Price Target to C$33.00

Torex Gold Resources (TSE:TXG) had its target price lowered by stock analysts at TD Securities from C$34.00 to C$33.00 in a note issued to investors on Friday, BayStreet.CA reports. TD Securities’ target price indicates a potential upside of 53.49% from the company’s current price.

Several other research analysts also recently weighed in on the stock. CIBC upped their price objective on shares of Torex Gold Resources from C$23.00 to C$26.00 in a report on Wednesday, July 10th. Scotiabank lifted their price objective on Torex Gold Resources from C$23.00 to C$25.00 in a research note on Thursday, May 23rd. National Bankshares raised their price target on Torex Gold Resources from C$27.00 to C$27.50 and gave the company a “sector perform” rating in a report on Monday, June 10th. Raymond James set a C$27.00 price objective on shares of Torex Gold Resources and gave the stock an “outperform” rating in a report on Friday, June 7th. Finally, Canaccord Genuity Group lifted their price target on Torex Gold Resources from C$30.50 to C$32.00 in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Torex Gold Resources currently has an average rating of “Moderate Buy” and an average price target of C$26.94.

Torex Gold Resources Price Performance

TXG traded up C$0.81 during trading on Friday, hitting C$21.50. 152,684 shares of the stock traded hands, compared to its average volume of 258,833. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.07 and a quick ratio of 2.12. Torex Gold Resources has a twelve month low of C$12.40 and a twelve month high of C$23.56. The company has a market cap of C$1.85 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.02 and a beta of 1.33. The business has a 50 day moving average price of C$21.44 and a 200 day moving average price of C$18.98.

Torex Gold Resources (TSE:TXG) last announced its quarterly earnings results on Wednesday, May 8th. The company reported C$0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.52 by C$0.05. The firm had revenue of C$318.84 million during the quarter. Torex Gold Resources had a net margin of 20.14% and a return on equity of 12.37%. Equities research analysts forecast that Torex Gold Resources will post 2.5906363 earnings per share for the current fiscal year.

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.