Scotiabank Brokers Increase Earnings Estimates for TSE:TXG

Torex Gold Resources Inc. (TSE:TXG) – Research analysts at Scotiabank lifted their FY2024 earnings estimates for shares of Torex Gold Resources in a note issued to investors on Wednesday, January 8th. Scotiabank analyst E. Winmill now forecasts that the company will post earnings of $2.43 per share for the year, up from their prior estimate of $2.31. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Scotiabank also issued estimates for Torex Gold Resources’ FY2025 earnings at $2.21 EPS.

Several other research analysts have also recently commented on TXG. CIBC increased their target price on shares of Torex Gold Resources from C$33.00 to C$34.50 in a report on Monday, December 2nd. Raymond James increased their price objective on shares of Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday. National Bankshares raised Torex Gold Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$31.25 to C$37.75 in a research report on Thursday, October 10th. National Bank Financial upgraded Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada raised their price target on Torex Gold Resources from C$34.00 to C$37.00 in a research note on Friday, December 6th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$34.81.

Torex Gold Resources Price Performance

Shares of TXG opened at C$29.10 on Friday. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. Torex Gold Resources has a twelve month low of C$12.79 and a twelve month high of C$32.75. The stock has a market capitalization of C$2.50 billion, a P/E ratio of 17.53, a P/E/G ratio of 0.02 and a beta of 1.34. The company has a 50 day moving average of C$28.84 and a 200-day moving average of C$26.04.

Torex Gold Resources (TSE:TXG) last announced its earnings results on Wednesday, November 6th. The company reported C$1.02 EPS 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 firm had revenue of C$427.96 million for the quarter.

Torex Gold Resources Company Profile

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.