Cormark Has Optimistic Outlook of TSE:TXG FY2024 Earnings

Torex Gold Resources Inc. (TSE:TXG) – Investment analysts at Cormark lifted their FY2024 earnings per share estimates for shares of Torex Gold Resources in a research report issued on Friday, November 8th. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $3.53 for the year, up from their previous forecast of $3.34. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share. Cormark also issued estimates for Torex Gold Resources’ FY2025 earnings at $4.31 EPS, FY2026 earnings at $4.03 EPS and FY2027 earnings at $4.60 EPS.

Other analysts also recently issued reports about the company. Canaccord Genuity Group raised their target price on Torex Gold Resources from C$30.50 to C$32.00 in a research note on Tuesday, July 23rd. Scotiabank lifted their price target on Torex Gold Resources from C$27.00 to C$29.00 in a research note on Friday, September 6th. BMO Capital Markets lifted 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. National Bank Financial upgraded Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, National Bankshares upgraded Torex Gold Resources from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$31.25 to C$37.75 in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$31.86.

Torex Gold Resources Stock Performance

Shares of TXG opened at C$28.15 on Monday. 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 has a 50-day moving average of C$27.48 and a 200-day moving average of C$23.65. The company has a market cap of C$2.42 billion, a PE ratio of 16.96, a P/E/G ratio of 0.02 and a beta of 1.34. Torex Gold Resources has a one year low of C$12.40 and a one year high of C$32.10.

Torex Gold Resources (TSE:TXG) last issued its earnings results 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 during the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%.

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.