National Bank Financial Upgrades Torex Gold Resources (TSE:TXG) to Strong-Buy

National Bank Financial upgraded shares of Torex Gold Resources (TSE:TXG) from a hold rating to a strong-buy rating in a research note published on Wednesday, Zacks.com reports.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets upped their price objective 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. CIBC upped their target price on Torex Gold Resources from C$23.00 to C$26.00 in a report on Wednesday, July 10th. Canaccord Genuity Group boosted their price target on shares of Torex Gold Resources from C$30.50 to C$32.00 in a research report on Tuesday, July 23rd. TD Securities reduced their target price on shares of Torex Gold Resources from C$34.00 to C$33.00 in a research note on Friday, August 9th. Finally, Cormark increased their price target on shares of Torex Gold Resources from C$30.00 to C$33.00 in a research note 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 company. According to MarketBeat, the company currently has an average rating of Buy and an average price target of C$31.31.

Torex Gold Resources Stock Up 0.4 %

TXG opened at C$29.14 on Wednesday. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. Torex Gold Resources has a twelve month low of C$12.40 and a twelve month high of C$29.97. The company has a market cap 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 200 day moving average price of C$22.22.

Torex Gold Resources (TSE:TXG) last issued 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 firm had revenue of C$369.83 million during the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. Sell-side analysts expect that Torex Gold Resources will post 3.4501992 earnings per share for the current fiscal year.

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.