Torex Gold Resources (TSE:TXG) Releases Quarterly Earnings Results

Torex Gold Resources (TSE:TXGGet Rating) released its quarterly earnings results on Wednesday. The company reported C$0.84 earnings per share for the quarter, beating the consensus estimate of C$0.65 by C$0.19, reports. The business had revenue of C$299.94 million during the quarter.

Torex Gold Resources Stock Up 0.4 %

Shares of TSE:TXG opened at C$10.76 on Friday. The stock has a fifty day simple moving average of C$10.66 and a two-hundred day simple moving average of C$13.24. The stock has a market capitalization of C$923.66 million and a price-to-earnings ratio of 5.35. Torex Gold Resources has a 12-month low of C$8.54 and a 12-month high of C$17.43. The company has a current ratio of 2.97, a quick ratio of 2.05 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling at Torex Gold Resources

In other Torex Gold Resources news, Director Rosalie C. Moore purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, June 30th. The stock was purchased at an average price of C$10.77 per share, for a total transaction of C$43,080.00. Following the completion of the purchase, the director now directly owns 15,794 shares of the company’s stock, valued at C$170,101.38.

Analyst Upgrades and Downgrades

TXG has been the topic of several recent research reports. CIBC reduced their price target on Torex Gold Resources from C$21.00 to C$20.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 13th. Scotiabank raised their price target on Torex Gold Resources from C$23.00 to C$24.00 in a research report on Friday. Canaccord Genuity Group lifted their price target on Torex Gold Resources from C$23.00 to C$24.00 in a research report on Friday, April 22nd. TD Securities dropped their price target on Torex Gold Resources from C$31.00 to C$27.00 in a research report on Thursday, July 21st. Finally, National Bankshares lifted their price target on Torex Gold Resources from C$15.00 to C$15.50 in a research report on Friday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Torex Gold Resources has a consensus rating of “Hold” and an average price target of C$21.72.

About Torex Gold Resources

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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.

Further Reading

Earnings History for Torex Gold Resources (TSE:TXG)

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