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 target price decreased by stock analysts at Canadian Imperial Bank of Commerce from C$100.00 to C$90.00 in a research report issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 44.60% from the stock’s current price.

Separately, National Bank Financial upped their price target on Torex Gold Resources from C$98.00 to C$101.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$87.29.

Torex Gold Resources Stock Up 4.1%

TSE:TXG traded up C$2.43 during mid-day trading on Friday, hitting C$62.24. 655,423 shares of the company’s stock were exchanged, compared to its average volume of 638,170. Torex Gold Resources has a one year low of C$40.01 and a one year high of C$85.00. The company has a debt-to-equity ratio of 4.01, a current ratio of 1.37 and a quick ratio of 2.12. The business has a fifty day moving average price of C$56.92 and a 200 day moving average price of C$62.89. The company has a market cap of C$5.81 billion, a PE ratio of 9.97, a P/E/G ratio of 0.02 and a beta of 1.96.

Torex Gold Resources (TSE:TXG) last announced its earnings results 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 business had revenue of C$578.12 million during the quarter. Equities analysts predict that Torex Gold Resources will post 3.6254502 EPS for the current year.

Insiders Place Their Bets

In related news, insider Daniel James Thomas Rollins bought 850 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average price of C$61.51 per share, for a total transaction of C$52,283.50. Following the completion of the acquisition, the insider owned 13,926 shares of the company’s stock, valued at C$856,588.26. This trade represents a 6.50% increase in their position. Insiders have purchased a total of 2,250 shares of company stock worth $137,030 in the last 90 days. 0.35% of the stock is owned by corporate insiders.

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.