Torex Gold Resources (TSE:TXG) Rating Increased to Strong-Buy at National Bank Financial

National Bank Financial upgraded shares of Torex Gold Resources (TSE:TXG) from a hold rating to a strong-buy rating in a report published on Wednesday, Zacks.com reports.

TXG has been the subject of several other reports. TD Securities lowered their target price on Torex Gold Resources from C$34.00 to C$33.00 in a research report on Friday, August 9th. Cormark raised their target price on Torex Gold Resources from C$30.00 to C$33.00 in a research report on Friday, September 6th. CIBC raised their target price on Torex Gold Resources from C$23.00 to C$26.00 in a research report on Wednesday, July 10th. Royal Bank of Canada raised their target price on Torex Gold Resources from C$32.00 to C$34.00 and gave the stock an outperform rating in a research report on Tuesday, September 10th. Finally, Scotiabank raised their target price on Torex Gold Resources from C$27.00 to C$29.00 in a research report on Friday, September 6th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of C$31.31.

Torex Gold Resources Stock Up 8.9 %

Shares of TXG opened at C$29.03 on Wednesday. Torex Gold Resources has a 52 week low of C$12.40 and a 52 week high of C$29.08. The stock has a market capitalization of C$2.50 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 7.32, a quick ratio of 2.12 and a current ratio of 1.09. The stock has a fifty day moving average of C$24.86 and a 200-day moving average of C$22.15.

Torex Gold Resources (TSE:TXG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported C$0.82 EPS for the quarter, beating analysts’ consensus estimates of C$0.70 by C$0.12. The company had revenue of C$369.83 million during the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. As a group, sell-side analysts anticipate that Torex Gold Resources will post 3.4501992 earnings per share for the current fiscal 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.