Brokers Offer Predictions for Torex Gold Resources Inc.’s Q1 2024 Earnings (TSE:TXG)

Torex Gold Resources Inc. (TSE:TXG) – Investment analysts at Cormark dropped their Q1 2024 earnings estimates for shares of Torex Gold Resources in a report released on Monday, April 22nd. Cormark analyst R. Gray now expects that the company will post earnings of $0.52 per share for the quarter, down from their previous forecast of $0.66. The consensus estimate for Torex Gold Resources’ current full-year earnings is $2.01 per share.

Several other brokerages have also recently commented on TXG. CIBC boosted their target price on shares of Torex Gold Resources from C$21.00 to C$23.00 in a research report on Monday, April 15th. National Bankshares boosted their target price on shares of Torex Gold Resources from C$25.00 to C$25.25 in a research report on Friday, April 19th. Finally, Canaccord Genuity Group boosted their target price on shares of Torex Gold Resources from C$26.25 to C$28.50 in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.16.

Torex Gold Resources Price Performance

Shares of TSE:TXG opened at C$19.45 on Wednesday. The firm has a 50 day moving average of C$17.58 and a 200-day moving average of C$15.28. The stock has a market capitalization of C$1.67 billion, a PE ratio of 6.12, a PEG ratio of 0.02 and a beta of 1.18. The company has a current ratio of 1.44, a quick ratio of 2.12 and a debt-to-equity ratio of 2.14. Torex Gold Resources has a 12 month low of C$12.40 and a 12 month high of C$25.40.

Torex Gold Resources (TSE:TXG) last issued its earnings results on Wednesday, February 21st. The company reported C$0.77 EPS for the quarter, missing the consensus estimate of C$0.98 by C($0.21). The firm had revenue of C$384.49 million during the quarter. Torex Gold Resources had a net margin of 23.16% and a return on equity of 14.68%.

Insider Activity at Torex Gold Resources

In related news, Director Rodrigo Sandoval Navarro purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of C$9.97 per share, with a total value of C$49,843.00. 0.22% of the stock is currently owned by insiders.

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.