Torex Gold Resources (TSE:TXG) Given New C$24.00 Price Target at Scotiabank

Torex Gold Resources (TSE:TXGGet Rating) had its price objective boosted by Scotiabank from C$23.00 to C$24.00 in a report published on Friday morning, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group boosted their target price on shares of Torex Gold Resources from C$23.00 to C$24.00 in a report on Friday, April 22nd. CIBC lowered their target price on shares of Torex Gold Resources from C$21.00 to C$20.00 and set a neutral rating on the stock in a report on Wednesday, April 13th. National Bankshares lowered their target price on shares of Torex Gold Resources from C$22.00 to C$15.00 and set a sector perform rating on the stock in a report on Thursday, July 21st. TD Securities lowered their target price on shares of Torex Gold Resources from C$31.00 to C$27.00 in a report on Thursday, July 21st. Finally, BMO Capital Markets decreased their price target on shares of Torex Gold Resources from C$28.00 to C$23.00 in a research note on Thursday, April 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of C$21.72.

Torex Gold Resources Stock Performance

TXG opened at C$10.76 on Friday. The firm has a market cap of C$923.66 million and a P/E ratio of 5.35. Torex Gold Resources has a 1-year low of C$8.54 and a 1-year high of C$17.43. The company has a 50 day simple moving average of C$10.66 and a two-hundred day simple moving average of C$13.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.97 and a quick ratio of 2.05.

Torex Gold Resources (TSE:TXGGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported C$0.84 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.65 by C$0.19. The firm had revenue of C$299.94 million during the quarter. Equities analysts forecast that Torex Gold Resources will post 1.49 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rosalie C. Moore bought 4,000 shares of Torex Gold Resources stock in a transaction dated Thursday, June 30th. The shares were acquired at an average price of C$10.77 per share, with a total value of C$43,080.00. Following the completion of the purchase, the director now owns 15,794 shares in the company, valued at approximately C$170,101.38.

Torex Gold Resources Company Profile

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Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property that covers an area of 29,000 hectares located southwest of Mexico City. The company's principal assets include the El Limón Guajes mining complex comprising the El Limón Guajes open pits, the El Limón Guajes underground mine, and the processing plant and related infrastructure, and the Media Luna deposit, which is an advanced stage development project.

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