Torex Gold Resources (TSE:TXG) Given New C$34.50 Price Target at CIBC

Torex Gold Resources (TSE:TXG) had its price target hoisted by equities research analysts at CIBC from C$33.00 to C$34.50 in a note issued to investors on Monday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 18.23% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets lifted their target price on Torex Gold Resources from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Cormark upped their price target on Torex Gold Resources from C$30.00 to C$33.00 in a report on Friday, September 6th. Royal Bank of Canada boosted their price objective 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. National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$31.25 to C$37.75 in a research report on Thursday, October 10th. Finally, Scotiabank raised their target price on Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$33.69.

Torex Gold Resources Stock Down 1.8 %

Shares of TSE TXG traded down C$0.52 during trading hours on Monday, hitting C$29.18. The company had a trading volume of 26,372 shares, compared to its average volume of 259,303. 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 stock has a market capitalization of C$2.51 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The firm’s 50 day moving average is C$28.57 and its 200-day moving average is C$24.60. Torex Gold Resources has a 1-year low of C$12.79 and a 1-year high of C$32.10.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings results 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 company had revenue of C$427.96 million for the quarter. On average, analysts expect that Torex Gold Resources will post 3.6254502 earnings per share for the current fiscal year.

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.