Torex Gold Resources (TSE:TXG) Price Target Raised to C$28.50 at Canaccord Genuity Group

Torex Gold Resources (TSE:TXG) had its price objective upped by Canaccord Genuity Group from C$26.25 to C$28.50 in a report released on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price suggests a potential upside of 44.67% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. National Bankshares upped their price objective on Torex Gold Resources from C$25.00 to C$25.25 in a report on Friday. CIBC lifted their price target on shares of Torex Gold Resources from C$21.00 to C$23.00 in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Torex Gold Resources currently has an average rating of “Moderate Buy” and an average price target of C$25.16.

Torex Gold Resources Price Performance

TSE TXG traded up C$0.12 on Tuesday, hitting C$19.70. The stock had a trading volume of 163,361 shares, compared to its average volume of 261,456. The firm has a 50-day moving average of C$17.44 and a 200-day moving average of C$15.24. The company has a market capitalization of C$1.69 billion, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 0.02 and a beta of 1.18. The company has a debt-to-equity ratio of 2.14, a quick ratio of 2.12 and a current ratio of 1.44. Torex Gold Resources has a 52-week low of C$12.40 and a 52-week high of C$25.40.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings results on Wednesday, February 21st. The company reported C$0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.98 by C($0.21). The business had revenue of C$384.49 million for the quarter. Torex Gold Resources had a net margin of 23.16% and a return on equity of 14.68%. Equities analysts expect that Torex Gold Resources will post 2.0050352 EPS for the current year.

Insider Activity

In other news, Director Rodrigo Sandoval Navarro purchased 5,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were acquired at an average price of C$9.97 per share, with a total value of C$49,843.00. Insiders own 0.22% of the company’s stock.

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.