What is Raymond James’ Forecast for TSE:TXG FY2024 Earnings?

Torex Gold Resources Inc. (TSE:TXG) – Equities research analysts at Raymond James boosted their FY2024 earnings estimates for Torex Gold Resources in a note issued to investors on Monday, January 6th. Raymond James analyst C. Stanley now anticipates that the company will post earnings of $2.27 per share for the year, up from their prior forecast of $1.82. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Raymond James also issued estimates for Torex Gold Resources’ Q4 2024 earnings at $1.02 EPS, Q1 2025 earnings at $0.42 EPS, Q3 2025 earnings at $1.06 EPS and Q4 2025 earnings at $1.19 EPS.

Several other equities analysts have also recently issued reports on the company. National Bank Financial upgraded Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$31.25 to C$37.75 in a report on Thursday, October 10th. Scotiabank raised their price objective on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. TD Securities increased their target price on Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Finally, Royal Bank of Canada upped their target price on shares of Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$34.81.

Torex Gold Resources Stock Up 2.9 %

Shares of TSE:TXG opened at C$29.04 on Thursday. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12. Torex Gold Resources has a 1-year low of C$12.79 and a 1-year high of C$32.75. The firm has a fifty day moving average price of C$28.86 and a 200 day moving average price of C$25.98. The stock has a market cap of C$2.50 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.02 and a beta of 1.34.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.02 earnings per share for the quarter, topping 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 business had revenue of C$427.96 million during the quarter.

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.