Q3 2016 Earnings Forecast for Torex Gold Resources Inc Issued By Cormark (TXG)
Torex Gold Resources Inc (TSE:TXG) – Research analysts at Cormark decreased their Q3 2016 earnings per share estimates for Torex Gold Resources in a note issued to investors on Monday. Cormark analyst R. Gray now expects that the brokerage will earn $0.17 per share for the quarter, down from their previous estimate of $0.20. Cormark also issued estimates for Torex Gold Resources’ Q4 2016 earnings at $0.22 EPS, FY2016 earnings at $0.69 EPS, Q1 2017 earnings at $0.00 EPS, Q2 2017 earnings at $0.26 EPS, Q3 2017 earnings at $0.29 EPS, Q4 2017 earnings at $0.29 EPS and FY2017 earnings at $0.83 EPS.
Separately, Royal Bank Of Canada raised their target price on shares of Torex Gold Resources from C$2.25 to C$2.60 and gave the company an “outperform” rating in a research report on Monday, June 13th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of C$2.37.
Torex Gold Resources (TSE:TXG) traded down 2.46% during trading on Wednesday, hitting $28.92. 215,343 shares of the company’s stock were exchanged. Torex Gold Resources has a 52-week low of $10.90 and a 52-week high of $35.17. The firm has a 50 day moving average price of $31.36 and a 200 day moving average price of $23.79. The company’s market cap is $2.29 billion.
In other news, insider Jeffrey Anthony Swinoga sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of C$34.59, for a total value of C$345,900.00.
About Torex Gold Resources
Torex Gold Resources Inc is a Canada-based resource company. The Company operates through the segment of exploration and development of mineral properties in Mexico. It is engaged in the exploration, development and operation of the Morelos Gold Property. The Morelos Gold Property includes a land package of over 29,000 hectares and contains over two assets, the ELG Mine, which is in the production-stage, and the Media Luna Project, which is in an advanced-stage of exploration.
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