Torex Gold Resources (TSE:TXG) Given New C$24.00 Price Target at Canaccord Genuity Group

Torex Gold Resources (TSE:TXGGet Rating) had its price target boosted by research analysts at Canaccord Genuity Group from C$23.00 to C$24.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Canaccord Genuity Group’s price objective indicates a potential upside of 63.93% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. TD Securities reduced their price target on Torex Gold Resources from C$33.00 to C$31.00 and set a “buy” rating on the stock in a report on Tuesday, April 5th. Cormark reduced their target price on Torex Gold Resources from C$21.00 to C$20.00 and set a “market perform” rating on the stock in a report on Monday, April 4th. CIBC reduced their target price on Torex Gold Resources from C$21.00 to C$20.00 and set a “neutral” rating on the stock in a report on Wednesday, April 13th. Scotiabank reduced their target price on Torex Gold Resources from C$24.00 to C$22.00 in a report on Wednesday, April 6th. Finally, BMO Capital Markets reduced their target price on Torex Gold Resources from C$28.00 to C$23.00 in a report on Thursday, April 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$23.05.

Shares of TXG traded down C$0.30 on Friday, reaching C$14.64. 105,305 shares of the company’s stock traded hands, compared to its average volume of 381,305. The company has a current ratio of 2.34, a quick ratio of 1.63 and a debt-to-equity ratio of 0.30. The stock has a market cap of C$1.26 billion and a PE ratio of 6.77. The stock’s 50 day simple moving average is C$15.89 and its two-hundred day simple moving average is C$14.41. Torex Gold Resources has a 52-week low of C$11.79 and a 52-week high of C$18.72.

Torex Gold Resources (TSE:TXGGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported C$0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.43 by C$0.05. The business had revenue of C$254.67 million for the quarter. Analysts forecast that Torex Gold Resources will post 1.39 earnings per share for the current year.

Torex Gold Resources Company Profile (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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Analyst Recommendations for Torex Gold Resources (TSE:TXG)

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