TD Securities Raises Price Target for Torex Gold Resources

Torex Gold Resources (TSE:TXG) has received an updated price target from analysts at TD Securities, who increased their estimate from C$34.00 to C$38.00. This change was announced in a research report released on Friday. The new target price implies a potential upside of approximately 22.30% based on the company's current market value.

A variety of other financial institutions have also reviewed Torex Gold Resources recently. For example, CIBC adjusted their price target from C$23.00 to C$26.00 in a report published on July 10. Additionally, BMO Capital Markets elevated their target from C$29.00 to C$30.00 while labeling the stock as "outperform" in a report issued on September 10. Meanwhile, National Bank Financial upgraded the stock from a "hold" to a "strong-buy" rating on October 9.

Further upgrades followed from Canaccord Genuity Group, who raised their target price on Torex from C$30.50 to C$32.00 on July 23. National Bankshares also changed their outlook, modifying their rating from "sector perform" to "outperform" and adjusting the price target from C$31.25 to C$37.75 by October 10. Currently, five analysts have assigned a buy rating, while one has issued a strong buy rating for the stock. According to MarketBeat.com, the average rating stands at "Buy," with a consensus target price of C$31.86.

Torex Gold Resources Sees Stock Increase

In recent trading, shares of Torex Gold Resources experienced a gain of 4.5%, rising by C$1.35 and reaching C$31.07 during midday on Friday. The trading volume totaled 158,039 shares, which is lower than the average volume of 263,192. The company's fifty-day moving average sits at C$25.75, while the two-hundred-day moving average is at C$22.52. Current financial metrics indicate a current ratio of 1.09, a quick ratio of 2.12, and a debt-to-equity ratio of 7.32. With a market capitalization of C$2.67 billion, the stock has a price-to-earnings (PE) ratio of 18.68, and a price-to-earnings-growth (PEG) ratio of 0.02. Notably, the stock has experienced a one-year low of C$12.40 and a high of C$31.16.

Torex Gold Resources last released its earnings results on August 7, where the company reported earnings per share (EPS) of C$0.82 for the quarter. This result exceeded the consensus estimate of C$0.70 by C$0.12. The revenue during this quarter was C$369.83 million. The firm demonstrated a return on equity of 7.12% and achieved a net margin of 11.16%. Analysts are forecasting an EPS of about 3.63 for the current year.

About Torex Gold Resources

Torex Gold Resources Inc operates as a mid-tier gold producer, primarily within Mexico. The company has a 100% stake in the Morelos Gold property, which includes the Morelos Complex. This complex consists of the El Limón Guajes Mine, the Media Luna Project, a processing facility, and supporting infrastructure that spans over 29,000 hectares located to the southwest of Mexico City.

Investment Considerations

As investors evaluate whether to support Torex Gold Resources, keeping current with market ratings and analyst predictions becomes essential. The stock has had a strong performance recently, and while it currently holds a "Buy" rating, some analysts believe there may be other stocks that present better future prospects. Traders and potential investors should weigh all available information when considering this company.

Torex, Gold, Stocks