Cormark Has Pessimistic Outlook of TSE:TXG FY2024 Earnings

Torex Gold Resources Inc. (TSE:TXG) – Stock analysts at Cormark decreased their FY2024 earnings per share estimates for Torex Gold Resources in a note issued to investors on Thursday, January 16th. Cormark analyst R. Gray now expects that the company will earn $3.34 per share for the year, down from their previous estimate of $3.35. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Cormark also issued estimates for Torex Gold Resources’ Q1 2025 earnings at $0.45 EPS, Q2 2025 earnings at $1.12 EPS and FY2027 earnings at $4.59 EPS.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings data 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. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. The firm had revenue of C$427.96 million for the quarter.

Other equities research analysts have also issued research reports about the company. Raymond James upped their target price on Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday, January 7th. CIBC upped their price objective on Torex Gold Resources from C$33.00 to C$34.50 in a research report on Monday, December 2nd. National Bankshares upgraded Torex Gold Resources from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$31.25 to C$37.75 in a research report on Thursday, October 10th. National Bank Financial upgraded shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, TD Securities lifted their price target on shares of Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$34.81.

Torex Gold Resources Stock Up 0.7 %

Shares of TSE TXG opened at C$28.16 on Monday. The firm’s 50-day moving average is C$28.65 and its two-hundred day moving average is C$26.44. The company has a market capitalization of C$2.42 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 12-month low of C$12.79 and a 12-month high of C$32.75. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12.

About Torex Gold Resources

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.