Torex Gold Resources (TSE:TXG) Price Target Lowered to C$90.00 at Canadian Imperial Bank of Commerce

Torex Gold Resources (TSE:TXG) had its price objective trimmed by Canadian Imperial Bank of Commerce from C$100.00 to C$90.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

Separately, National Bank Financial increased their price target on Torex Gold Resources from C$98.00 to C$101.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$87.29.

Torex Gold Resources Stock Performance

Shares of TXG stock opened at C$62.75 on Friday. The company has a quick ratio of 2.12, a current ratio of 1.37 and a debt-to-equity ratio of 4.01. The company has a 50 day moving average price of C$56.91 and a 200-day moving average price of C$62.89. Torex Gold Resources has a 52 week low of C$40.01 and a 52 week high of C$85.00. The firm has a market capitalization of C$5.86 billion, a PE ratio of 10.06, a P/E/G ratio of 0.02 and a beta of 1.96.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$1.28 earnings per share for the quarter. Torex Gold Resources had a net margin of 34.17% and a return on equity of 26.78%. The company had revenue of C$578.12 million for the quarter. As a group, equities research analysts expect that Torex Gold Resources will post 3.6254502 earnings per share for the current year.

Torex Gold Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th were paid a $0.16 dividend. This is a boost from Torex Gold Resources’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, May 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. Torex Gold Resources’s dividend payout ratio (DPR) is currently 3.48%.

Insider Activity

In other Torex Gold Resources news, insider Daniel James Thomas Rollins bought 850 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of C$61.51 per share, for a total transaction of C$52,283.50. Following the completion of the transaction, the insider owned 13,926 shares of the company’s stock, valued at C$856,588.26. This represents a 6.50% increase in their position. Insiders have purchased a total of 2,250 shares of company stock valued at $137,030 over the last quarter. Company insiders own 0.35% of the company’s stock.

About Torex Gold Resources

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.