Torex Gold Resources (TSE:TXG) Cut to Hold at ATB Cormark Capital Markets

Torex Gold Resources (TSE:TXG) was downgraded by equities research analysts at ATB Cormark Capital Markets from a “moderate buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on TXG. National Bank Financial cut their price objective on shares of Torex Gold Resources from C$89.00 to C$85.00 and set an “outperform” rating for the company in a research report on Monday. Scotiabank dropped their target price on shares of Torex Gold Resources from C$105.00 to C$95.00 in a research report on Friday. Finally, Canadian Imperial Bank of Commerce cut their price target on shares of Torex Gold Resources from C$100.00 to C$90.00 in a report on Friday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$85.00.

Torex Gold Resources Trading Down 1.8%

Shares of TXG stock opened at C$61.61 on Monday. The stock has a market cap of C$5.75 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.02 and a beta of 1.96. Torex Gold Resources has a 1 year low of C$40.01 and a 1 year high of C$85.00. The company has a current ratio of 1.38, a quick ratio of 2.12 and a debt-to-equity ratio of 3.86. The stock has a 50 day simple moving average of C$56.92 and a 200 day simple moving average of C$62.69.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$1.28 EPS for the quarter. Torex Gold Resources had a return on equity of 25.62% and a net margin of 33.02%.The firm had revenue of C$578.12 million for the quarter. On average, research analysts predict that Torex Gold Resources will post 3.6254502 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Torex Gold Resources news, insider Daniel James Thomas Rollins bought 850 shares of Torex Gold Resources stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average cost of C$61.51 per share, with a total value of C$52,283.50. Following the acquisition, the insider directly owned 13,926 shares of the company’s stock, valued at C$856,588.26. The trade was a 6.50% increase in their position. Over the last 90 days, insiders have purchased 2,250 shares of company stock worth $137,030. Insiders own 0.35% of the company’s stock.

Torex Gold Resources Company Profile

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.