TD Securities Increases Price Target for Torex Gold Resources

Torex Gold Resources (TSE:TXG) received an upgraded price target from TD Securities, rising from C$34.00 to C$38.00. This update was shared in a research report released to clients and investors on Friday. The new target price indicates a potential upside of approximately 22.30% based on the company's current stock price.

Several other financial institutions have also provided new ratings and target price adjustments for Torex Gold Resources. CIBC raised its target from C$23.00 to C$26.00 as noted in their report dated July 10. BMO Capital Markets increased their target price for Torex from C$29.00 to C$30.00 and recognized the company's performance with an "outperform" designation in a report on September 10. On October 9, National Bank Financial upgraded Torex Gold from a "hold" to a "strong-buy" rating. Additionally, Canaccord Genuity Group adjusted its target price upwards from C$30.50 to C$32.00 on July 23. More recently, National Bankshares elevated its rating from "sector perform" to "outperform" and lifted their target price from C$31.25 to C$37.75 in a report released on October 10. Currently, five analysts have assigned a buy rating to the stock while one has designated it as a strong buy. The consensus rating on the stock is noted as "Buy," with an average target price of C$31.86 according to MarketBeat.com.

Torex Gold Resources Experiences Stock Growth

During mid-day trading on Friday, the shares of Torex Gold Resources rose by C$1.35, bringing the stock price to C$31.07. The trading volume for the day reached 158,039 shares, slightly below the average volume of 263,192 shares. The company's fifty-day moving average stands at C$25.75, while the two-hundred-day moving average is C$22.52. Presently, Torex has a current ratio of 1.09, a quick ratio of 2.12, and a debt-to-equity ratio of 7.32. The total market capitalization of the company is C$2.67 billion, with a price-to-earnings (PE) ratio of 18.68, suggesting strong profitability.

Torex Gold Resources recently reported earnings on August 7, showcasing an impressive earnings per share (EPS) of C$0.82 for the quarter, surpassing the consensus expectation of C$0.70 by C$0.12. The company’s revenue for the quarter amounted to C$369.83 million. Additionally, Torex has recorded a return on equity of 7.12% and a net margin of 11.16%. Analysts project that Torex Gold Resources will achieve an EPS of approximately 3.625 in the current year.

About Torex Gold Resources

Torex Gold Resources Inc operates as an intermediate gold producer based in Mexico. The company fully owns the Morelos Gold property, which encompasses the Morelos Complex, including the El Limón Guajes Mine Complex and the Media Luna Project along with its processing facilities and related infrastructure spanning an area of 29,000 hectares located southwest of Mexico City.

Torex, Gold, Stocks