Torex Gold Resources (TSE:TXG) Price Target Raised to C$37.00 at Royal Bank of Canada

Torex Gold Resources (TSE:TXG) had its price objective increased by Royal Bank of Canada from C$34.00 to C$37.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

Several other brokerages also recently weighed in on TXG. Scotiabank upped their target price on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. CIBC increased their price target on shares of Torex Gold Resources from C$33.00 to C$34.50 in a report on Monday, December 2nd. National Bankshares upgraded shares of Torex Gold Resources from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$31.25 to C$37.75 in a report on Thursday, October 10th. TD Securities raised their price target on shares of Torex Gold Resources from C$34.00 to C$38.00 in a research note on Friday, October 18th. Finally, Cormark raised their target price on shares of Torex Gold Resources from C$30.00 to C$33.00 in a research report on Friday, September 6th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Torex Gold Resources presently has a consensus rating of “Buy” and an average target price of C$34.03.

Torex Gold Resources Trading Down 11.8 %

Shares of TXG stock opened at C$28.15 on Friday. Torex Gold Resources has a 1 year low of C$12.79 and a 1 year high of C$32.75. The firm has a fifty day moving average price of C$28.92 and a 200-day moving average price of C$24.84. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12. The company has a market cap of C$2.42 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 0.02 and a beta of 1.34.

Torex Gold Resources (TSE:TXG) last issued its earnings results on Wednesday, November 6th. The company reported C$1.02 earnings per share for the quarter, topping the consensus estimate of C$0.82 by C$0.20. The company 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%. As a group, equities analysts predict that Torex Gold Resources will post 3.6254502 earnings per share for the current 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.