Cormark Expects Higher Earnings for Torex Gold Resources

Torex Gold Resources Inc. (TSE:TXG) – Equities research analysts at Cormark boosted their FY2024 EPS estimates for Torex Gold Resources in a report released on Monday, November 4th. Cormark analyst R. Gray now anticipates that the company will earn $3.34 per share for the year, up from their previous forecast of $2.60. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Cormark also issued estimates for Torex Gold Resources’ Q4 2024 earnings at $1.04 EPS, FY2025 earnings at $4.28 EPS, FY2026 earnings at $3.96 EPS and FY2027 earnings at $4.57 EPS.

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, topping the consensus estimate of C$0.70 by C$0.12. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. The firm had revenue of C$369.83 million for the quarter.

Several other analysts also recently weighed in on the company. TD Securities boosted their target price on Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Canaccord Genuity Group increased their price objective on Torex Gold Resources from C$30.50 to C$32.00 in a report on Tuesday, July 23rd. National Bank Financial upgraded shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. National Bankshares upgraded shares of 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, BMO Capital Markets raised their price objective on shares of Torex Gold Resources from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$31.86.

Torex Gold Resources Stock Performance

TSE TXG opened at C$28.63 on Wednesday. The company has a fifty day moving average of C$27.27 and a two-hundred day moving average of C$23.45. The company has a market capitalization of C$2.46 billion, a PE ratio of 17.25, a P/E/G ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 1 year low of C$12.40 and a 1 year high of C$32.10. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12.

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.