National Bank Financial Weighs in on TSE:TXG FY2024 Earnings

Torex Gold Resources Inc. (TSE:TXG) – Analysts at National Bank Financial boosted their FY2024 EPS estimates for Torex Gold Resources in a report released on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings of $2.58 per share for the year, up from their previous estimate of $2.49. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share.

A number of other brokerages also recently weighed in on TXG. Cormark boosted their price target on shares of Torex Gold Resources from C$30.00 to C$33.00 in a report on Friday, September 6th. BMO Capital Markets increased their target price on shares of Torex Gold Resources from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. CIBC lifted their price target on shares of Torex Gold Resources from C$23.00 to C$26.00 in a report on Wednesday, July 10th. TD Securities upped their price objective on Torex Gold Resources from C$34.00 to C$38.00 in a research note on Friday, October 18th. Finally, Canaccord Genuity Group raised their target price on Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$31.86.

Torex Gold Resources Stock Down 3.3 %

Shares of TSE:TXG opened at C$29.92 on Thursday. Torex Gold Resources has a 1 year low of C$12.40 and a 1 year high of C$32.10. The company has a market capitalization of C$2.57 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The business has a fifty day moving average price of C$26.58 and a two-hundred day moving average price of C$22.90. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12.

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, beating the consensus estimate of C$0.70 by C$0.12. The company had revenue of C$369.83 million during the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%.

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.