National Bank Financial Weighs in on Torex Gold Resources Inc.’s FY2024 Earnings (TSE:TXG)

Torex Gold Resources Inc. (TSE:TXG) – Equities research analysts at National Bank Financial increased their FY2024 EPS estimates for Torex Gold Resources in a research note issued to investors on Wednesday, October 9th. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings per share of $2.49 for the year, up from their previous estimate of $2.32. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.45 per share. National Bank Financial also issued estimates for Torex Gold Resources’ FY2025 earnings at $4.13 EPS and FY2026 earnings at $4.69 EPS.

Several other brokerages also recently commented on TXG. Canaccord Genuity Group raised their price objective on shares of Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. National Bankshares upgraded shares of Torex Gold Resources from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$31.25 to C$37.75 in a research report on Thursday, October 10th. CIBC raised their price objective on shares of Torex Gold Resources from C$23.00 to C$26.00 in a research report on Wednesday, July 10th. Royal Bank of Canada lifted their price target on shares of Torex Gold Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank lifted their price target on shares of Torex Gold Resources from C$27.00 to C$29.00 in a report on Friday, September 6th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Torex Gold Resources currently has a consensus rating of “Buy” and a consensus price target of C$31.31.

Torex Gold Resources Trading Up 0.4 %

Shares of Torex Gold Resources stock opened at C$29.14 on Monday. The stock has a market capitalization of C$2.51 billion, a PE ratio of 17.99, a P/E/G ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 1-year low of C$12.40 and a 1-year high of C$29.97. The company’s fifty day simple moving average is C$25.19 and its 200-day simple moving average is C$22.30. 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 (TSE:TXG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported C$0.82 earnings per share for the quarter, topping the consensus estimate of C$0.70 by C$0.12. The business had revenue of C$369.83 million for the quarter. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%.

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.