What is Cormark’s Forecast for TSE:TXG FY2024 Earnings?

Torex Gold Resources Inc. (TSE:TXG) – Equities researchers at Cormark lifted their FY2024 EPS estimates for Torex Gold Resources in a research report issued to clients and investors on Monday, November 4th. Cormark analyst R. Gray now expects that the company will earn $3.34 per share for the year, up from their previous estimate of $2.60. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Cormark also issued estimates for Torex Gold Resources’ Q4 2024 earnings at $1.04 EPS, FY2025 earnings at $4.28 EPS, FY2026 earnings at $3.96 EPS and FY2027 earnings at $4.57 EPS.

TXG has been the topic of several other reports. TD Securities upped their price objective on shares of Torex Gold Resources from C$34.00 to C$38.00 in a report on Friday, October 18th. Scotiabank raised their price objective on shares of Torex Gold Resources from C$27.00 to C$29.00 in a research report on Friday, September 6th. National Bank Financial upgraded Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada increased their target price on Torex Gold Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, BMO Capital Markets boosted their price target on Torex Gold Resources from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$31.86.

Torex Gold Resources Trading Up 7.4 %

Torex Gold Resources stock opened at C$30.74 on Wednesday. The stock has a 50-day simple moving average of C$27.36 and a 200 day simple moving average of C$23.53. The stock has a market capitalization of C$2.64 billion, a P/E ratio of 18.52, a PEG ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 7.32, a quick ratio of 2.12 and a current ratio of 1.09. Torex Gold Resources has a 52 week low of C$12.40 and a 52 week high of C$32.10.

Torex Gold Resources (TSE:TXG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$0.82 EPS for the quarter, beating analysts’ consensus estimates of C$0.70 by C$0.12. The company had revenue of C$369.83 million during 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.