Torex Gold Resources Inc. (TSE:TXG) to Post FY2024 Earnings of $2.60 Per Share, Cormark Forecasts

Torex Gold Resources Inc. (TSE:TXG) – Equities research analysts at Cormark cut their FY2024 EPS estimates for Torex Gold Resources in a note issued to investors on Thursday, October 10th. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $2.60 for the year, down from their previous estimate of $2.65. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.45 per share. Cormark also issued estimates for Torex Gold Resources’ FY2026 earnings at $3.36 EPS.

A number of other research firms have also recently issued reports on TXG. Scotiabank lifted their target price on shares of Torex Gold Resources from C$27.00 to C$29.00 in a research note on Friday, September 6th. Royal Bank of Canada lifted their target price on shares of Torex Gold Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. National Bank Financial upgraded shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on shares of 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. Finally, CIBC boosted their price objective on shares of Torex Gold Resources from C$23.00 to C$26.00 in a research note on Wednesday, July 10th. Five research 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, the company currently has an average rating of “Buy” and a consensus price target of C$31.31.

Torex Gold Resources Price Performance

TSE TXG opened at C$29.14 on Friday. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. The stock has a market capitalization of C$2.51 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The company has a 50 day moving average price of C$25.02 and a two-hundred day moving average price of C$22.22. Torex Gold Resources has a 12-month low of C$12.40 and a 12-month high of C$29.97.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported C$0.82 EPS for the quarter, topping the consensus estimate of C$0.70 by C$0.12. The business 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.