Scotiabank Has Bullish Forecast for TSE:TXG FY2024 Earnings

Torex Gold Resources Inc. (TSE:TXG) – Equities research analysts at Scotiabank boosted their FY2024 earnings estimates for Torex Gold Resources in a note issued to investors on Wednesday, January 8th. Scotiabank analyst E. Winmill now anticipates that the company will post earnings of $2.43 per share for the year, up from their prior forecast of $2.31. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Scotiabank also issued estimates for Torex Gold Resources’ FY2025 earnings at $2.21 EPS.

A number of other brokerages have also recently weighed in on TXG. CIBC boosted their price target on shares of Torex Gold Resources from C$33.00 to C$34.50 in a research report on Monday, December 2nd. National Bank Financial raised Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Raymond James raised their price target on Torex Gold Resources from C$33.00 to C$34.00 in a research note on Tuesday, January 7th. Royal Bank of Canada increased their price objective on Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Finally, TD Securities raised their target price on shares of Torex Gold Resources from C$34.00 to C$38.00 in a research report on Friday, October 18th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$34.81.

Torex Gold Resources Trading Down 1.1 %

Shares of Torex Gold Resources stock opened at C$28.78 on Friday. The company has a current ratio of 1.09, a quick ratio of 2.12 and a debt-to-equity ratio of 7.32. The company has a fifty day simple moving average of C$28.81 and a 200-day simple moving average of C$26.14. The stock has a market cap of C$2.47 billion, a price-to-earnings ratio of 17.34, a PEG 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$32.75.

Torex Gold Resources (TSE:TXG) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.20. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The firm had revenue of C$427.96 million during the quarter.

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.