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

Torex Gold Resources (TSE:TXG) announced its quarterly earnings results on Wednesday. The company reported C$2.75 earnings per share (EPS) for the quarter, FiscalAI reports. Torex Gold Resources had a return on equity of 25.62% and a net margin of 33.02%. The business had revenue of C$790.11 million for the quarter.

Torex Gold Resources Stock Down 2.5%

TXG stock opened at C$63.64 on Thursday. The stock’s fifty day simple moving average is C$69.44 and its two-hundred day simple moving average is C$64.70. 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 has a 1-year low of C$51.40 and a 1-year high of C$85.00. The stock has a market cap of C$5.89 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.02 and a beta of 1.80.

Torex Gold Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, September 4th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.64 annualized dividend and a yield of 1.0%. Torex Gold Resources’s payout ratio is currently 5.12%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. ATB Cormark Capital Markets upgraded shares of Torex Gold Resources from a “hold” rating to a “moderate buy” rating in a report on Monday, September 28th. Scotiabank dropped their price target on shares of Torex Gold Resources from C$105.00 to C$95.00 in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce cut their price target on Torex Gold Resources from C$100.00 to C$90.00 in a research note on Friday, August 7th. Finally, National Bank Financial boosted their price objective on Torex Gold Resources from C$85.00 to C$89.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$92.80.

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.