FY2024 Earnings Estimate for TSE:TXG Issued By Raymond James

Torex Gold Resources Inc. (TSE:TXG) – Equities researchers at Raymond James reduced their FY2024 earnings per share (EPS) estimates for shares of Torex Gold Resources in a note issued to investors on Monday, October 28th. Raymond James analyst C. Stanley now forecasts that the company will post earnings of $1.82 per share for the year, down from their previous estimate of $1.89. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share.

Other equities research analysts also recently issued research reports about the company. National Bank Financial upgraded Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Scotiabank upped their price target on Torex Gold Resources from C$27.00 to C$29.00 in a report on Friday, September 6th. National Bankshares upgraded Torex Gold Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$31.25 to C$37.75 in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on Torex Gold Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, Cormark upped their price target on Torex Gold Resources from C$30.00 to C$33.00 in a report on Friday, September 6th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$31.86.

Torex Gold Resources Price Performance

Shares of TSE TXG opened at C$30.03 on Wednesday. The stock’s 50-day moving average is C$26.95 and its two-hundred day moving average is C$23.11. 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$12.40 and a 1-year high of C$32.10. The company has a market cap of C$2.58 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported C$0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.70 by C$0.12. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The firm had revenue of C$369.83 million for 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.