Torex Gold Resources (TSE:TXG) Price Target Cut to C$20.00 by Analysts at CIBC

Torex Gold Resources (TSE:TXGGet Rating) had its price target dropped by equities researchers at CIBC from C$21.00 to C$20.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s target price indicates a potential upside of 23.76% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Scotiabank decreased their price target on Torex Gold Resources from C$24.00 to C$22.00 in a report on Wednesday, April 6th. Royal Bank of Canada reduced their target price on Torex Gold Resources from C$20.00 to C$18.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 5th. Canaccord Genuity Group reiterated a “buy” rating and set a C$24.00 target price on shares of Torex Gold Resources in a research note on Monday, January 31st. BMO Capital Markets reduced their target price on Torex Gold Resources from C$28.00 to C$23.00 in a research note on Thursday, April 7th. Finally, Cormark reduced their target price on Torex Gold Resources from C$21.00 to C$20.00 and set a “market perform” rating for the company in a research note on Monday, April 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$24.14.

TSE TXG opened at C$16.16 on Wednesday. The stock has a market cap of C$1.39 billion and a PE ratio of 7.50. Torex Gold Resources has a fifty-two week low of C$11.79 and a fifty-two week high of C$18.72. The business has a 50 day moving average price of C$15.70 and a two-hundred day moving average price of C$14.30. The company has a quick ratio of 1.63, a current ratio of 2.34 and a debt-to-equity ratio of 0.30.

Torex Gold Resources (TSE:TXGGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported C$0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.43 by C$0.05. The company had revenue of C$254.67 million during the quarter. Sell-side analysts anticipate that Torex Gold Resources will post 1.2999999 EPS for the current fiscal year.

About Torex Gold Resources (Get Rating)

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property that covers an area of 29,000 hectares located southwest of Mexico City. The company's principal assets include the El Limón Guajes mining complex comprising the El Limón Guajes open pits, the El Limón Guajes underground mine, and the processing plant and related infrastructure, and the Media Luna deposit, which is an advanced stage development project.

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