Torex Gold Resources (TSE:TXG) Announces Earnings Results

Torex Gold Resources (TSE:TXG) announced its quarterly earnings results on Wednesday. The company reported C$2.75 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$790.11 million during the quarter. Torex Gold Resources had a net margin of 33.02% and a return on equity of 25.62%.

Torex Gold Resources Stock Performance

TXG stock traded down C$1.65 during trading on Wednesday, hitting C$63.64. The company had a trading volume of 166,422 shares, compared to its average volume of 608,143. The firm has a 50-day moving average price of C$69.44 and a 200-day moving average price of C$64.70. The company has a quick ratio of 2.12, a current ratio of 1.38 and a debt-to-equity ratio of 3.86. The firm has a market cap of C$5.89 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.02 and a beta of 1.80. Torex Gold Resources has a 1-year low of C$51.40 and a 1-year high of C$85.00.

Torex Gold Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, September 4th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 21st. Torex Gold Resources’s payout ratio is 5.12%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TXG. National Bank Financial boosted their target price on Torex Gold Resources from C$85.00 to C$89.00 and gave the company an “outperform” rating in a report on Monday, September 21st. Canadian Imperial Bank of Commerce cut their price target on Torex Gold Resources from C$100.00 to C$90.00 in a research report on Friday, August 7th. ATB Cormark Capital Markets upgraded Torex Gold Resources from a “hold” rating to a “moderate buy” rating in a research note on Monday, September 28th. Finally, Scotiabank lowered their target price on shares of Torex Gold Resources from C$105.00 to C$95.00 in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$92.80.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.