CIBC Increases Torex Gold Resources (TSE:TXG) Price Target to C$34.50

Torex Gold Resources (TSE:TXG) had its price target upped by analysts at CIBC from C$33.00 to C$34.50 in a report released on Monday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 10.90% from the stock’s current price.

TXG has been the subject of several other research reports. National Bankshares upgraded shares of Torex Gold Resources from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$31.25 to C$37.75 in a research note on Thursday, October 10th. National Bank Financial upgraded shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. TD Securities raised their price objective on Torex Gold Resources from C$34.00 to C$38.00 in a research note on Friday, October 18th. Scotiabank lifted their target price on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. Finally, BMO Capital Markets upped their price target on shares of Torex Gold Resources from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$33.69.

Torex Gold Resources Stock Performance

Torex Gold Resources stock opened at C$31.11 on Monday. The company has a market cap of C$2.67 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a 12 month low of C$12.79 and a 12 month high of C$32.10. The company has a debt-to-equity ratio of 7.32, a current ratio of 1.09 and a quick ratio of 2.12. The stock’s 50-day moving average is C$28.65 and its 200-day moving average is C$24.63.

Torex Gold Resources (TSE:TXG) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$1.02 EPS for the quarter, beating the consensus estimate of C$0.82 by C$0.20. The company had revenue of C$427.96 million for the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. Equities analysts anticipate that Torex Gold Resources will post 3.6254502 earnings per share for the current year.

Torex Gold Resources Company Profile

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.