FY2024 Earnings Estimate for TSE:TXG Issued By Raymond James

Torex Gold Resources Inc. (TSE:TXG) – Research analysts at Raymond James reduced their FY2024 EPS estimates for shares of Torex Gold Resources in a research note issued to investors on Monday, October 28th. Raymond James analyst C. Stanley now anticipates that the company will post earnings per share of $1.82 for the year, down from their prior estimate of $1.89. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported C$0.82 EPS for the quarter, beating analysts’ consensus estimates 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.

TXG has been the subject of several other reports. CIBC lifted their price objective on Torex Gold Resources from C$23.00 to C$26.00 in a report on Wednesday, July 10th. Canaccord Genuity Group raised their target price on shares of Torex Gold Resources from C$30.50 to C$32.00 in a report on Tuesday, July 23rd. BMO Capital Markets boosted their target price on shares of Torex Gold Resources from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Cormark raised their price target on Torex Gold Resources from C$30.00 to C$33.00 in a research note on Friday, September 6th. Finally, TD Securities upped their price objective on Torex Gold Resources from C$34.00 to C$38.00 in a research report on Friday, October 18th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$31.86.

Torex Gold Resources Stock Performance

Shares of TXG opened at C$30.30 on Wednesday. Torex Gold Resources has a 12 month low of C$12.40 and a 12 month high of C$32.10. The business’s fifty day simple moving average is C$26.84 and its two-hundred day simple moving average is C$23.04. 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 has a market cap of C$2.61 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 0.02 and a beta of 1.34.

About Torex Gold Resources

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.