Royal Bank of Canada Increases Torex Gold Resources (TSE:TXG) Price Target to C$32.00

Torex Gold Resources (TSE:TXG) had its price target upped by Royal Bank of Canada from C$30.00 to C$32.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 33.33% from the stock’s previous close.

TXG has been the subject of a number of other research reports. TD Securities decreased their target price on shares of Torex Gold Resources from C$34.00 to C$33.00 in a research note on Friday, August 9th. Raymond James set a C$27.00 price objective on Torex Gold Resources and gave the company an “outperform” rating in a research report on Friday, June 7th. National Bankshares boosted their target price on Torex Gold Resources from C$27.00 to C$27.50 and gave the company a “sector perform” rating in a research note on Monday, June 10th. Scotiabank raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$26.00 to C$27.00 in a research note on Monday, August 19th. Finally, CIBC boosted their price target on Torex Gold Resources from C$23.00 to C$26.00 in a research note on Wednesday, July 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Torex Gold Resources has an average rating of “Moderate Buy” and an average price target of C$28.44.

Torex Gold Resources Stock Down 4.3 %

TSE:TXG opened at C$24.00 on Tuesday. The business’s fifty day moving average price is C$22.91 and its 200 day moving average price is C$20.50. The firm has a market capitalization of C$2.06 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 0.02 and a beta of 1.33. The company has a current ratio of 1.09, a quick ratio of 2.12 and a debt-to-equity ratio of 7.32. Torex Gold Resources has a 1-year low of C$12.40 and a 1-year high of C$26.85.

Torex Gold Resources (TSE:TXG) last issued its earnings results on Wednesday, August 7th. The company reported C$0.82 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.70 by C$0.12. The company had revenue of C$369.83 million for the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. On average, sell-side analysts forecast that Torex Gold Resources will post 2.688728 earnings per share for the current fiscal year.

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.