Insider Buying: Torex Gold Resources (TSE:TXG) Director Buys C$24,644.10 in Stock

Torex Gold Resources Inc. (TSE:TXG) Director Jacques Perron purchased 390 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was bought at an average cost of C$63.19 per share, for a total transaction of C$24,644.10. Following the completion of the purchase, the director directly owned 390 shares in the company, valued at C$24,644.10. This represents a ∞ increase in their position.

Torex Gold Resources Price Performance

TXG stock traded down C$2.13 during trading on Thursday, hitting C$60.53. The stock had a trading volume of 530,447 shares, compared to its average volume of 673,500. The company has a debt-to-equity ratio of 4.01, a current ratio of 1.37 and a quick ratio of 2.12. Torex Gold Resources Inc. has a twelve month low of C$38.80 and a twelve month high of C$85.00. The stock has a market capitalization of C$5.65 billion, a P/E ratio of 9.70, a PEG ratio of 0.02 and a beta of 1.82. The company’s 50-day moving average price is C$61.69 and its two-hundred day moving average price is C$65.47.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$2.89 EPS for the quarter. The company had revenue of C$749.79 million during the quarter. Torex Gold Resources had a return on equity of 26.78% and a net margin of 34.17%. As a group, research analysts predict that Torex Gold Resources Inc. will post 3.6254502 EPS for the current fiscal year.

Torex Gold Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, June 4th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, May 21st. This is a positive change from Torex Gold Resources’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. Torex Gold Resources’s dividend payout ratio (DPR) is presently 3.48%.

Wall Street Analyst Weigh In

Separately, National Bank Financial raised their price objective 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. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$85.75.

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.