Cormark Has Optimistic Outlook of TSE:TXG FY2024 Earnings

Torex Gold Resources Inc. (TSE:TXG) – Research analysts at Cormark lifted their FY2024 earnings per share (EPS) estimates for Torex Gold Resources in a research report issued on Friday, November 8th. Cormark analyst R. Gray now forecasts that the company will earn $3.53 per share for the year, up from their previous forecast of $3.34. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Cormark also issued estimates for Torex Gold Resources’ FY2025 earnings at $4.31 EPS, FY2026 earnings at $4.03 EPS and FY2027 earnings at $4.60 EPS.

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

A number of other analysts also recently issued reports on the stock. BMO Capital Markets lifted 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 report on Tuesday, September 10th. National Bank Financial raised Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. TD Securities increased 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. Royal Bank of Canada boosted their price objective on shares of Torex Gold Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank lifted their target price on shares of Torex Gold Resources from C$27.00 to C$29.00 in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$31.86.

Torex Gold Resources Stock Down 0.7 %

TXG stock opened at C$27.96 on Monday. Torex Gold Resources has a 1-year low of C$12.40 and a 1-year high of C$32.10. The stock has a market cap of C$2.40 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The company has a current ratio of 1.09, a quick ratio of 2.12 and a debt-to-equity ratio of 7.32. The company’s 50 day moving average is C$27.52 and its 200 day moving average is C$23.71.

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.