Torex Gold Resources Inc. (TSE:TXG) to Post FY2024 Earnings of $2.60 Per Share, Cormark Forecasts

Torex Gold Resources Inc. (TSE:TXG) – Stock analysts at Cormark cut their FY2024 earnings per share estimates for Torex Gold Resources in a research report issued to clients and investors on Thursday, October 10th. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $2.60 for the year, down from their previous estimate of $2.65. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.45 per share. Cormark also issued estimates for Torex Gold Resources’ FY2026 earnings at $3.36 EPS.

Other equities analysts have also recently issued research reports about the company. TD Securities cut their price target on Torex Gold Resources from C$34.00 to C$33.00 in a report on Friday, August 9th. Canaccord Genuity Group raised their price target on Torex Gold Resources from C$30.50 to C$32.00 in a report on Tuesday, July 23rd. CIBC raised their price target on Torex Gold Resources from C$23.00 to C$26.00 in a report on Wednesday, July 10th. Royal Bank of Canada raised their price target on Torex Gold Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank raised their price target on Torex Gold Resources from C$27.00 to C$29.00 in a report on Friday, September 6th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Torex Gold Resources has a consensus rating of “Buy” and an average target price of C$31.31.

Torex Gold Resources Stock Performance

TSE:TXG opened at C$29.14 on Friday. 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 12-month low of C$12.40 and a 12-month high of C$29.97. The stock has a 50-day moving average price of C$25.02 and a 200 day moving average price of C$22.22. The stock has a market capitalization of C$2.51 billion, a P/E ratio of 17.99, a P/E/G ratio of 0.02 and a beta of 1.34.

Torex Gold Resources (TSE:TXG) last released its earnings results on Wednesday, August 7th. The company reported C$0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.70 by C$0.12. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The firm had revenue of C$369.83 million during the quarter.

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.