Cormark Analysts Reduce Earnings Estimates for Torex Gold Resources Inc. (TSE:TXG)

Torex Gold Resources Inc. (TSE:TXG) – Investment analysts at Cormark dropped their Q4 2024 earnings per share estimates for shares of Torex Gold Resources in a research report issued to clients and investors on Tuesday, July 2nd. Cormark analyst R. Gray now forecasts that the company will post earnings of $0.31 per share for the quarter, down from their prior forecast of $0.34. The consensus estimate for Torex Gold Resources’ current full-year earnings is $2.59 per share.

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, topping analysts’ consensus estimates of C$0.52 by C$0.05. Torex Gold Resources had a net margin of 20.14% and a return on equity of 12.37%. The firm had revenue of C$318.84 million for the quarter.

A number of other equities analysts have also recently weighed in on TXG. National Bankshares raised their price objective 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. Canaccord Genuity Group raised their target price on shares of Torex Gold Resources from C$26.25 to C$28.50 in a research report on Tuesday, April 23rd. CIBC lifted their price target on Torex Gold Resources from C$21.00 to C$23.00 in a research report on Monday, April 15th. 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, Scotiabank upped their price target on shares of Torex Gold Resources from C$23.00 to C$25.00 in a research note on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$25.75.

Torex Gold Resources Stock Performance

TSE:TXG opened at C$22.13 on Thursday. Torex Gold Resources has a twelve month low of C$12.40 and a twelve month high of C$22.56. The company has a quick ratio of 2.12, a current ratio of 1.07 and a debt-to-equity ratio of 2.86. The stock has a market cap of C$1.90 billion, a P/E ratio of 7.93, a PEG ratio of 0.02 and a beta of 1.33. The business’s 50-day moving average price is C$20.74 and its two-hundred day moving average price is C$17.74.

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.