Royal Bank of Canada Raises Torex Gold Resources (TSE:TXG) Price Target to C$34.00

Torex Gold Resources (TSE:TXG) had its target price boosted by Royal Bank of Canada from C$32.00 to C$34.00 in a report issued on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research firms also recently issued reports on TXG. CIBC increased their price target on Torex Gold Resources from C$23.00 to C$26.00 in a research report on Wednesday, July 10th. Raymond James set a C$27.00 price objective on Torex Gold Resources and gave the stock an outperform rating in a research note on Friday, June 7th. Cormark raised their target price on Torex Gold Resources from C$30.00 to C$33.00 in a report on Friday, September 6th. Canaccord Genuity Group raised their price objective on Torex Gold Resources from C$30.50 to C$32.00 in a report on Tuesday, July 23rd. Finally, Scotiabank raised their target price on Torex Gold Resources from C$27.00 to C$29.00 in a research report on Friday, September 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Torex Gold Resources presently has a consensus rating of Moderate Buy and a consensus target price of C$30.17.

Torex Gold Resources Price Performance

TSE TXG opened at C$25.74 on Tuesday. The stock has a 50-day moving average of C$23.31 and a 200 day moving average of C$20.90. The company has a market capitalization of C$2.21 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 0.02 and a beta of 1.35. Torex Gold Resources has a one year low of C$12.40 and a one year high of C$26.85. The company has a debt-to-equity ratio of 7.32, a quick ratio of 2.12 and a current ratio of 1.09.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported C$0.82 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.70 by C$0.12. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The firm had revenue of C$369.83 million for the quarter. On average, sell-side analysts forecast that Torex Gold Resources will post 3.2219355 EPS for the current year.

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.