Torex Gold Resources Inc. (TSE:TXG) Receives Average Recommendation of “Hold” from Brokerages

Torex Gold Resources Inc. (TSE:TXG – Get Rating) has been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is C$21.44.

A number of research analysts have issued reports on TXG shares. BMO Capital Markets increased their target price on shares of Torex Gold Resources from C$22.00 to C$23.00 in a report on Friday. National Bankshares increased their target price on shares of Torex Gold Resources from C$15.50 to C$21.50 and gave the company a “sector perform” rating in a report on Friday. Scotiabank increased their target price on shares of Torex Gold Resources from C$18.00 to C$19.00 in a report on Thursday, November 10th. CIBC increased their target price on shares of Torex Gold Resources from C$16.50 to C$18.50 and gave the company a “neutral” rating in a report on Friday. Finally, Stifel Nicolaus increased their target price on shares of Torex Gold Resources from C$21.50 to C$22.00 in a report on Friday.

Torex Gold Resources Trading Down 2.1 %

TSE TXG opened at C$17.92 on Tuesday. The stock has a market capitalization of C$1.54 billion and a P/E ratio of 7.69. Torex Gold Resources has a 52-week low of C$8.07 and a 52-week high of C$18.73. The firm has a 50-day moving average price of C$14.33 and a 200 day moving average price of C$11.34. The company has a quick ratio of 2.12, a current ratio of 3.02 and a debt-to-equity ratio of 0.25.

Torex Gold Resources (TSE:TXG – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported C$0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.43 by C$0.09. The firm had revenue of C$273.10 million for the quarter. Equities research analysts expect that Torex Gold Resources will post 1.39 EPS for the current year.

Torex Gold Resources Company Profile

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Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property that covers an area of 29,000 hectares located southwest of Mexico City. The company's principal assets include the El Limón Guajes mining complex comprising the El Limón Guajes open pits, the El Limón Guajes underground mine, and the processing plant and related infrastructure, and the Media Luna deposit, which is an advanced stage development project.