Torex Gold Resources (TSE:TXG) Announces Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Torex Gold Resources (TSE:TXG) issued its quarterly earnings data on Wednesday. The company reported C$1.02 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.20, reports. The business had revenue of C$427.96 million during the quarter. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%.

Torex Gold Resources Stock Performance

Shares of TXG stock traded down C$1.33 on Friday, reaching C$29.41. The stock had a trading volume of 169,435 shares, compared to its average volume of 261,263. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. The firm’s 50-day moving average is C$27.36 and its two-hundred day moving average is C$23.53. Torex Gold Resources has a 12 month low of C$12.40 and a 12 month high of C$32.10. The firm has a market capitalization of C$2.53 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 0.02 and a beta of 1.34.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Scotiabank increased their price objective on shares of Torex Gold Resources from C$27.00 to C$29.00 in a research report on Friday, September 6th. National Bankshares upgraded Torex Gold Resources from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$31.25 to C$37.75 in a research report on Thursday, October 10th. TD Securities lifted their price target on Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Canaccord Genuity Group boosted their price target on shares of Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their target price on Torex Gold Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Five 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, the stock presently has a consensus rating of “Buy” and a consensus target price of C$31.86.

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.