Scotiabank Has Optimistic Outlook of TSE:TXG FY2024 Earnings

Torex Gold Resources Inc. (TSE:TXG) – Scotiabank lifted their FY2024 earnings per share estimates for shares of Torex Gold Resources in a report released on Wednesday, January 8th. Scotiabank analyst E. Winmill now forecasts that the company will earn $2.43 per share for the year, up from their previous estimate of $2.31. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Scotiabank also issued estimates for Torex Gold Resources’ FY2025 earnings at $2.21 EPS.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$1.02 EPS for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.20. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The business had revenue of C$427.96 million for the quarter.

Several other research firms have also issued reports on TXG. TD Securities raised their price target on shares of Torex Gold Resources from C$34.00 to C$38.00 in a research report on Friday, October 18th. National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$31.25 to C$37.75 in a research report on Thursday, October 10th. National Bank Financial raised Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Finally, Raymond James upped their target price on Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$34.81.

Torex Gold Resources Trading Up 0.2 %

Shares of TXG stock opened at C$29.10 on Friday. The firm has a market capitalization of C$2.50 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 1 year low of C$12.79 and a 1 year high of C$32.75. The firm’s fifty day simple moving average is C$28.84 and its 200 day simple moving average is C$26.04. The company has a current ratio of 1.09, a quick ratio of 2.12 and a debt-to-equity ratio of 7.32.

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.