Royal Bank of Canada Forecasts Strong Price Appreciation for Torex Gold Resources (TSE:TXG) Stock

Torex Gold Resources (TSE:TXG) had its price target upped by equities research analysts at Royal Bank of Canada from C$34.00 to C$37.00 in a note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective suggests a potential upside of 33.57% from the stock’s previous close.

Several other research analysts also recently weighed in on TXG. National Bank Financial upgraded shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. CIBC increased their price objective on Torex Gold Resources from C$33.00 to C$34.50 in a research note on Monday. National Bankshares upgraded shares of Torex Gold Resources from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$31.25 to C$37.75 in a research report on Thursday, October 10th. BMO Capital Markets upped their price objective 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. Finally, Scotiabank boosted their target price on Torex Gold Resources from C$33.00 to C$37.00 in a report on Thursday, November 21st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$34.03.

Torex Gold Resources Stock Performance

Shares of TSE TXG traded down C$4.21 during mid-day trading on Friday, hitting C$27.70. The stock had a trading volume of 663,716 shares, compared to its average volume of 260,746. The company has a 50 day moving average of C$28.89 and a two-hundred day moving average of C$24.79. The firm has a market cap of C$2.38 billion, a PE ratio of 16.69, a PEG ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a twelve month low of C$12.79 and a twelve month high of C$32.75. 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 earnings results on Wednesday, November 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.82 by C$0.20. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. The firm had revenue of C$427.96 million during the quarter. Research analysts predict that Torex Gold Resources will post 3.6254502 EPS for the current fiscal 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.