Canaccord Genuity Group Raises Torex Gold Resources (TSE:TXG) Price Target to C$28.50

Torex Gold Resources (TSE:TXG) had its target price lifted by investment analysts at Canaccord Genuity Group from C$26.25 to C$28.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s price target would indicate a potential upside of 46.53% from the company’s previous close.

Other analysts have also issued research reports about the stock. CIBC raised their target price on shares of Torex Gold Resources from C$21.00 to C$23.00 in a research report on Monday, April 15th. National Bankshares lifted their price target on shares of Torex Gold Resources from C$25.00 to C$25.25 in a report on Friday, April 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$25.16.

Torex Gold Resources Stock Performance

Shares of TSE:TXG opened at C$19.45 on Tuesday. Torex Gold Resources has a 1 year low of C$12.40 and a 1 year high of C$25.40. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.44 and a quick ratio of 2.12. The stock has a market capitalization of C$1.67 billion, a price-to-earnings ratio of 6.12, a price-to-earnings-growth ratio of 0.02 and a beta of 1.18. The company’s 50 day simple moving average is C$17.58 and its 200 day simple moving average is C$15.28.

Torex Gold Resources (TSE:TXG) last issued its earnings results on Wednesday, February 21st. The company reported C$0.77 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.98 by C($0.21). Torex Gold Resources had a net margin of 23.16% and a return on equity of 14.68%. The company had revenue of C$384.49 million during the quarter. As a group, research analysts predict that Torex Gold Resources will post 2.0050352 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Rodrigo Sandoval Navarro acquired 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of C$9.97 per share, for a total transaction of C$49,843.00. 0.22% of the stock is currently owned by company insiders.

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.