National Bank Financial Cuts Torex Gold Resources (TSE:TXG) Price Target to C$85.00

Torex Gold Resources (TSE:TXG) had its price target cut by National Bank Financial from C$89.00 to C$85.00 in a report published on Monday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other analysts also recently issued reports on the company. Canadian Imperial Bank of Commerce decreased their price target on Torex Gold Resources from C$100.00 to C$90.00 in a report on Friday, August 7th. Scotiabank dropped their price objective on Torex Gold Resources from C$105.00 to C$95.00 in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Torex Gold Resources has an average rating of “Moderate Buy” and a consensus target price of C$85.00.

Torex Gold Resources Price Performance

Shares of TXG opened at C$62.30 on Monday. The firm has a market capitalization of C$5.77 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.02 and a beta of 1.96. The firm’s fifty day simple moving average is C$56.97 and its 200-day simple moving average is C$62.48. Torex Gold Resources has a twelve month low of C$40.01 and a twelve month high of C$85.00. The company has a current ratio of 1.38, a quick ratio of 2.12 and a debt-to-equity ratio of 3.86.

Torex Gold Resources (TSE:TXG) last issued its earnings results on Thursday, August 6th. The company reported C$1.28 EPS for the quarter. The firm had revenue of C$578.12 million during the quarter. Torex Gold Resources had a net margin of 33.02% and a return on equity of 25.62%. Equities analysts forecast that Torex Gold Resources will post 3.6254502 EPS for the current fiscal year.

Torex Gold Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, May 21st. This is a positive change from Torex Gold Resources’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. Torex Gold Resources’s dividend payout ratio is 5.12%.

Insider Transactions at Torex Gold Resources

In other news, insider Daniel James Thomas Rollins acquired 850 shares of Torex Gold Resources stock in a transaction on Tuesday, June 2nd. The stock was bought at an average price of C$61.51 per share, for a total transaction of C$52,283.50. Following the completion of the purchase, the insider owned 13,926 shares in the company, valued at C$856,588.26. This represents a 6.50% increase in their ownership of the stock. In the last quarter, insiders purchased 2,250 shares of company stock worth $137,030. Company insiders own 0.35% of the company’s stock.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.