Torex Gold Resources (TSE:TXG) Announces Earnings Results

Torex Gold Resources (TSE:TXG) released its quarterly earnings results on Wednesday. The company reported C$2.75 EPS for the quarter, FiscalAI reports. Torex Gold Resources had a return on equity of 25.62% and a net margin of 33.02%. The business had revenue of C$790.11 million during the quarter.

Torex Gold Resources Stock Down 2.5%

TXG stock opened at C$63.64 on Friday. Torex Gold Resources has a fifty-two week low of C$51.40 and a fifty-two week high of C$85.00. The business’s 50 day moving average price is C$69.30 and its two-hundred day moving average price is C$64.65. The company has a debt-to-equity ratio of 3.86, a quick ratio of 2.12 and a current ratio of 1.38. The company has a market capitalization of C$5.89 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.02 and a beta of 1.70.

Torex Gold Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, September 4th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. Torex Gold Resources’s dividend payout ratio is 5.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank reduced their target price on Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce dropped their price target on Torex Gold Resources from C$100.00 to C$90.00 in a research note on Friday, August 7th. ATB Cormark Capital Markets upgraded shares of Torex Gold Resources from a “hold” rating to a “moderate buy” rating in a report on Monday, September 28th. Finally, National Bank Financial boosted their price objective on shares of Torex Gold Resources from C$85.00 to C$89.00 and gave the company an “outperform” rating in a research report on Monday, September 21st. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Torex Gold Resources has a consensus rating of “Buy” and an average price target of C$92.80.

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.